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Debt Financing / Related, Restructuring / Reorganization, Bankruptcy / Related

Gulfport Receives Court Approval Of First-Day Motions To Support Ongoing Operations

Published: 11/17/2020 19:07 GMT
Gulfport Energy Corp (GPOR) - Gulfport Receives Court Approval of First-day Motions to Support Ongoing Operations.
Gulfport Energy Corp - Court Also Authorized Gulfport to Borrow Up to $90 Million in Debtor-in-possession Financing.
Gulfport Energy Corp - Expects to Exit Chapter 11 Process With Leverage Below Two Times.
Gulfport Energy - Dip, Combined With Cash Generated by Co, Will Support Ongoing Operations in Ordinary Course of Business During Restructuring.
Gulfport Energy Corp - Also Received a Commitment From Its Existing Lenders to Provide $580 Million in Exit Financing Upon Emergence From Chapter 11.
Gulfport Energy Corp - to Pay Employee Wages and Benefits, Royalty Owners, and Others in Ordinary Course.