Gulfport Energy to repay revolver via note, common stock offerings

By Tali Rackner

Norfolk, Va., April 15 – Gulfport Energy Corp. plans to repay the current outstanding borrowings under its secured revolving credit facility with the proceeds from a $300 million senior note offering and a public offering of 7.5 million shares of common stock, according to two press releases.

Proceeds will also be used to fund its previously announced pending acquisition of Paloma Partners III, LLC and for general corporate purposes, including the funding of a portion of its 2015 capital development plans.

Gulfport is an Oklahoma City-based oil and gas exploration and production company.

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