
(Source: Shutterstock)
Gulfport Energy Corp. announced Sept. 9 the results and expiration on its previous cash tender offer on the outstanding 8.0% senior notes due 2026.
As of the offer’s expiration date at the close of business on Sept. 9, Gulfport received tenders for an aggregate principal amount of approximately $524 million, or 95%, of the notes.
These amounts exclude the $620,500 aggregate principal amount of the notes that remain subject to the guaranteed delivery procedures, Gulfport said.
Gulfport will pay the purchase price for the notes validly tendered prior to the expiration date or pursuant to the guaranteed delivery on Sept. 13, the settlement date.
Gulfport said the purchase price for the notes is $1,023.35 for each $1,000 principal amount of notes validly tendered and accepted for purchase pursuant to the offer.
The purchase price also includes accrued and unpaid interest on the notes validly tendered and accepted for purchase from the last interest payment date up to, but not including, the settlement date.
If notes are held in denominations smaller than $1,000, or held other than in integral multiples of $1,000, then such holder will receive a prorated amount of the purchase price per $1,000 in principal amount of notes, Gulfport said.
Recommended Reading
Oil Prices Fall into Negative Territory as Trump Announces New Tariffs
2025-04-02 - U.S. futures rose by a dollar and then turned negative over the course of Trump's press conference on April 2 in which he announced tariffs on trading partners including the European Union, China and South Korea.
Oil Jumps 4% After Trump Pauses Tariffs on Many Countries, Raises China Levy
2025-04-09 - Oil prices bounced back after U.S. President Donald Trump said he would further increase tariffs on China but pause the tariffs he announced last week for most other countries.
Oil Prices Extend Losses on Global Trade War, Recession Fears
2025-04-04 - Investment bank JPMorgan said it now sees a 60% chance of a global economic recession by year-end, up from 40% previously.
E&P Execs Level Scathing Criticism at Trump's Drill Baby Drill 'Myth'
2025-03-26 - E&P executives pushed back at the Trump administration’s “drill, baby, drill” mantra in a new Dallas Fed survey: “’Drill, baby, drill,’ does not work with [$50/bbl] oil,” one executive said.
Trump to Host Top US Oil Chief Executives as Trade Wars Loom
2025-03-19 - U.S. President Donald Trump will host top oil executives at the White House on March 19 as he charts plans to boost domestic energy production in the midst of falling crude prices and looming trade wars.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.