Layoffs happening this week (2/27-3/3) follow the late January announcement of GPOR's new CEO. Layoffs to mostly leadership roles have been reported and rumored.
Gulfport for sale?
Read that GPOR is having meaningful conversations with an investment banker exploring strategic options including a possible sale of the company.
The directive from the new Board is layoffs will be June 21st.
Employment with Land Brokers
People laid off from land should contact brokers on the Gulfport approved vendors’ list for work. I’ve noticed that many land brokers Gulfport used received multiple huge loans from the Federal Government PPP. Western Land Services received nearly... — read more
Word is our assets our so worthless that no one else wants them. Let's hope we don't have to padlock our offices like Parsley. Parsley employees, when the sale was announced, were told all their jobs would be protected. Now they are all fired. ... — read more
What happened to the securities fraud investigation? On February 27, 2020, Gulfport disclosed that its previously issued financial statements for the three and nine months ended September 30, 2019 "should no longer be relied upon due to material... — read more
Ohio Supreme Court ruling
The Ohio Supreme Court ruled today on West v Bode, holding that both the DMA and the MTA may be applied to settling disputed severed minerals. This could impact the validity of producing leases GPOR operates.
Dead Man Walking--Gulfport files for bankruptcy
Gulfport Energy declared bankruptcy. Gulfport did a document dump on Friday and Saturday—looks like about 10 to 20 million in legal work just from what was filed Saturday. About 60 lawyers enter appearances on behalf of Gulfport. Guess where... — read more
GPOR just went through a round of layoffs. Gutted the land department. Other disciplines cut, as well. Sounds like severance packages were reasonable. Bets are bankruptcy before the end of 2020.
Now the media is picking it up, I know it was discussed here before: https://finance.yahoo.com/news/1-gulfport-energy-cut-jobs-123938511.html
Gulfport and Mammoth
Will Mammoth’s class action and federal investigations drive Gulfport even lower?
Michael Moore gone!
Nice to see Gulfport made the WAJ today with the news of Michael Moore being forced to step down as CEO. Evidently another CEO doesn’t understand the difference between personal and company affairs to the time of $649,200. So nice of GPOR to pay Mike... — read more
Yes we all know our current position in regards to the new 788 bill that passed. However I have just obtained my confirmation that my application was accepted. I am sure that HR is prepared to enforce their policy as well as I am prepared for my day... — read more
I was talking to my attorney today about the new medical cannabis law and according to him Gulf Port won’t be able to do anything. The new Oklahoma law has some priveledges that most other states did not afford and since Gulf Port is not a federal... — read more
Gulfport Southwestern Energy merger
Word on the street is a February 2017 announcement of a Gulfport- Southwestern Energy merger. Any truth to it?
Gulfport is in trouble.
GP continues to set new 52 weeks lows, daily. Can they afford the new building, a $1.8 B acquisition, rig commitments in OK and continue to drill OH at today's gas prices with less hedging at lower pricing. Is this CHK, act 2? They even named their... — read more
Company wide meeting called for 2/26/2016. All hands on deck and expected to be there!! Layoffs or cutbacks to be announced?
Gulfport Energy 2016 Cuts
Get ready - OK and wider, cuts are coming and you should be prepared. But hey? WHere to hide?
Oklahoma City Layoffs - Corporate - 2015
Do you think that our corporate office might be having layoffs sometimes in 2015? We saw what happened to Chesepeake last year, maybe we'll do better this year, you never know.