Oklahoma City-based Gulfport Energy Corp., 92% weighted to natural gas, plans to remain nimble this year to ensure it may “defer or accelerate” activity depending on the direction of prices. Speaking to analysts during the recent fourth quarter conference call, CEO John Reinhart said the “volatile natural gas environment reinforces the importance of developing our…
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Gulfport Changing Utica Approach to Boost Efficiency, Cut Costs After Bankruptcy
After emerging from bankruptcy in May with a new management team, Gulfport Energy Corp. has overhauled its operations with a focus on capital discipline, free cash flow (FCF) generation and investor returns over production growth. The company wiped $1.2 billion of debt from its balance sheet during the restructuring and it’s now focused on sustainability,…
August 17, 2021
Gulfport Emerges from Bankruptcy with Strengthened Balance Sheet, Eye on Further Reducing Costs
Six months after filing for Chapter 11 protection, Utica producer Gulfport Energy Corp. has emerged from bankruptcy with $1.20 billion wiped off its balance sheet through deleveraging and a shakeup of its management team. The exploration and production company said Tuesday it has successfully completed its restructuring process with a new board and CEO in…
May 18, 2021
Utica Shale Stalwart Gulfport Energy Files for Bankruptcy
Gulfport Energy Corp. filed for Chapter 11 bankruptcy protection Friday, becoming the latest exploration and production (E&P) company this year to succumb to low commodity prices made worse by the Covid-19 pandemic. The company said it has the support of 95% of its revolving credit facility lenders and other creditors holding over two-thirds of its…
November 17, 2020
People — Donnie Moore
Gulfport Energy Corp.has hired Donnie Moore asCOO. Moore, unrelated to CEO Michael G. Moore, is formerly a Noble Energy Inc. executive. He was vice president of Noble’s Texas operations in the Eagle Ford Shale and the Permian Basin’s Delaware sub-basin.
January 25, 2018
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