Gulfport Energy Corporation moved this week to repurchase nearly $15 million of stock from shareholders as part of a $1 billion buyback plan initiated by the Oklahoma City company.
As explained in a filing with the Securities and Exchange Commission, the company entered into a purchase agreement with certain accounts managed and advised by Silver Point Capital, L.P. to acquire 76,986 shares. The agreement included a purchase price of $194.84 per share with a 1.7% discount to the last reported per share sales price of Common Stock on the New York Stock Exchange on May 13, 2025.
The SEC filing indicated the repurchase is expected to close on May 20.
The Repurchase is part of the Company’s existing $1 billion common share repurchase program and will reduce remaining availability thereunder. As of May 14, 2025, and prior to the Repurchase, the Company had repurchased approximately 6 million shares of common stock at a weighted-average share price of $110.09 per share since the inception of the repurchase program, totaling approximately $660.6 million in aggregate.
Following the Repurchase, the Company will have approximately $324.4 million of remaining capacity under the common share repurchase program.
