Gulfport Energy updated its $650 million common share repurchase program with an SEC filing showing it recently agreed to purchase nearly another $40 million in accounts.
The accounts are managed and advised by Silver Point Capital, L.P. and MacKay Shields LLC. The repurchase by Gulfport involved 292,910 shares of the company’s common stock at a price of $136.56 per share. The deal is set to close Dec. 11.
Gufport indicated that as of the end of November, it had repurchased nearly 4 million shares of common stock at a weighted-average share price of $87.22. The repurchase program was launched in March 2022 totaling approximately $347.1 million in aggregate. The company said that it will have approximately $262.9 million of remaining capacity following the repurchase.