Gulfport’s Largest Investor Wants to Pack Board, Force Change

Last November Gulfport Energy, the Ohio Utica’s third-largest driller, announced they would lay off 13% of their workforce, end (for now) their stock share buy-back program, and “refresh” the board with three new members (see Gulfport Fires 13% of Workers, Ends Stock Buy-Back, Board Changes). Since that time they’ve added another two new board members, making the turnover five total (see Gulfport Continues Board “Refreshment” – 5th Change in 2 Months). Who lit a fire under Gulfport? That would be Firefly Value Partners, Gulfport’s single largest investor. Firefly and Gulfport are in another public spat over adding yet more new board members.

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