Gulfport Fires 13% of Workers, Ends Stock Buy-Back, Board Changes

Gulfport Energy, one of the biggest drillers in the Ohio Utica Shale (210,000 acres), concentrates its drilling in the Ohio Utica and the Oklahoma SCOOP plays. A few weeks ago the company announced they are shopping some of their non-operated assets in the Ohio Utica (see Gulfport 3Q – Looking to Sell Non-Operated Utica Assets). This morning the company made another major announcement: They are laying off 13% of the workforce, ending (for now) their stock share buy-back program, and “refreshing” the board with three new members.

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