湾港能源提供股东价值倡议和董事会更新流程的最新信息
Continues Accretive Debt Repurchases and Suspends Share Repurchase Program;
Completes 13% Headcount Reduction
Two Directors to Step Down from Board at Year-End
Chairman David L. Houston Will Not Seek Re-Election at 2020 Annual Meeting
OKLAHOMA CITY, Nov. 18, 2019年（环球新闻专线）——体育平台（纳斯达克股票代码：GPOR）（“格尔夫波特”或“公司”）, one of the largest producers of natural gas in the contiguous United States, 今天提供了股东价值倡议和正在进行的董事会更新过程的最新情况. 股东价值计划包括继续贴现债务回购和暂停股票回购计划, 此外，作为公司整体成本削减计划的一部分，公司还将裁员13%.
The Company also announced that two of its Board members, Craig Groeschel and Scott E. Streller, will step down from the Board by year-end. Furthermore, the Chairman of the Board, David L. Houston, has decided not to seek re-election at the Company’s next 2020 annual meeting. 公司一直在与一家全国知名的领先猎头公司合作，以确定和评估新的独立董事候选人，以确保代表股东的新人, diverse voices with strong expertise and qualifications.
“格尔夫波特的董事会和体育平台致力于采取及时果断的行动，为所有股东创造长期可持续的价值,” said David M. Wood, President and Chief Executive Officer. “To that end, following discussions with our large shareholders and other stakeholders, 我们认为，在当前的im体育平台官方网站环境下，以折扣价回购我们的无担保票据体育平台是一种有吸引力的资本配置. 我们也一直在努力研究如何在我们业务的各个领域m88体育官方网站提高效率，作为这项努力的一部分，最近我们减少了员工人数.”
Gulfport announced that it has recently repurchased $40.9 million in face value of unsecured senior notes for $29.2 million in cash proceeds. These repurchases are in addition to the $104.4 million in unsecured senior notes repurchased during the third quarter of 2019 for $80.3 million. 公司计划继续折价回购其无担保优先票据, which allow the Company to reduce its overall debt burden, 通过减少利息支出和获得给股东带来增值的折扣来改善现金流.
In light of current market conditions and a weak near-term gas price outlook, Gulfport has suspended its previously announced share repurchase program. 公司相信这一行动将使公司保持更强劲的资产负债表, leverage profile and ample liquidity. 股票回购计划可能会在未来重新启动，具体取决于公司的预期杠杆状况, commodity price outlook and market conditions.
为了m88体育官方网站提高盈利能力，更好地调整公司的成本结构，以适应当前低迷的商品价格环境, Gulfport最近还完成了裁员，裁员人数约占其员工总数的13%. 公司将继续寻找机会来m88体育官方网站提高整个组织的效率.
Commenting on the changes to the Gulfport Board, Mr. Wood stated: “On behalf of the Board, I would like to thank our Chairman, David L. Houston, Craig Groeschel and Scott E. Streller for their many contributions. The Company has benefitted greatly from their stewardship and collegiality, and each has been instrumental in helping the Company build an enviable portfolio of assets, maintain a solid balance sheet, and establish a path towards future value creation. In particular, I’d like to thank David for his dedicated service as Chairman, and I look forward to continuing to work with him in the coming months.”
David L. Houston, Chairman of the Board, stated: “It has been a great privilege to serve Gulfport and its shareholders. 我也想和大卫·伍德一起感谢克雷格和斯科特为格尔夫波特所做的贡献, including their important role in assembling our talented, new management team and helping to lay the foundation for the future.”
About Gulfport
Gulfport Energy体育平台是一家独立的天然气和石油公司，专注于北美天然气和石油资产的勘探和开发，体育平台是美国本土最大的天然气生产商之一. Headquartered in Oklahoma City, Gulfport在俄亥俄州东部的Utica页岩和俄克拉何马州的SCOOP Woodford和SCOOP Springer区块占有重要的面积. 此外，Gulfport还持有Mammoth能源服务公司约22%的股权. （纳斯达克股票代码：TUSK），并通过其在Grizzly Oil Sands ULC的25%权益，在加拿大Alberta Oil Sands占有一席之地. For more information, please visit empyreal.muerren.net.
Forward Looking Statements
本新闻稿包括“前瞻性陈述”，以1995年《体育平台》的安全港条款为目的, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Gulfport expects or anticipates will or may occur in the future, future capital expenditures (including the amount and nature thereof), business strategy and measures to implement strategy, repurchases of our outstanding debt or equity, the timing and completion of asset sales, competitive strength, goals, expansion and growth of Gulfport’s business and operations, plans, market conditions, references to future success, 提及有关未来事项和其他此类事项的意向均为前瞻性陈述. 这些陈述体育平台是基于格尔夫波特根据其经验和对历史趋势的看法所做的某些假设和分析, 当前状况和预期的未来发展，以及它认为在环境中适当的其他因素. However, 实际结果和发展体育平台是否符合格尔夫波特的期望和预测，受制于许多风险和不确定性, general economic, market, credit or business conditions that might affect the timing and amount of the repurchase program; the opportunities (or lack thereof) that may be presented to and pursued by Gulfport; Gulfport’s ability to identify, complete and integrate acquisitions of properties and businesses; Gulfport’s ability to achieve the anticipated benefits of its strategic initiatives, including the potential divestiture of certain water infrastructure assets Gulfport holds across its SCOOP position; competitive actions by other oil and gas companies; changes in laws or regulations; and other factors, many of which are beyond the control of Gulfport. 有关这些和其他因素的信息可以在公司提交给美国证券交易委员会的文件中找到, including its Forms 10-K, 10-Q and 8-K. Consequently, 本新闻稿中所作的所有前瞻性陈述均受这些警示性陈述的约束，不能保证Gulfport预期的实际结果或发展将会实现, or even if realized, that they will have the expected consequences to or effects on Gulfport, its business or operations. Gulfport has no intention, and disclaims any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.
Investor Contact:
Jessica Antle – Director, Investor Relations
jantle@muerren.net
405-252-4550
Media Contact:
Reevemark
Paul Caminiti / Hugh Burns / Nicholas Leasure
212-433-4600
Released November 18, 2019