Gulfport’s Biggest Shareholder Says Current Board has Made a Mess
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. Earlier this week the company made a 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 (see Gulfport Fires 13% of Workers, Ends Stock Buy-Back, Board Changes). According to Gulfport’s largest shareholder, investment firm Firefly Value Partners, those changes are not enough.
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