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Gulport Energy Prices $50M on Offering of Senior Notes


Gulfport Energy Corporation (Nasdaq: GPOR) ("Gulfport") today announced that it has priced an offering of $50 million aggregate principal amount of its 7.750% senior notes due 2020 (the "Notes") at an issue price of 101.000% of the aggregate principal amount of the Notes. The Notes were sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. On October 17, 2012, Gulfport completed a private placement of $250 million aggregate principal amount of its 7.750% senior notes due 2020. The Notes and the notes originally issued in October 2012 will be treated as a single class of debt securities under the same indenture. It is anticipated that the offering of the Notes will close on December 21, 2012. Gulfport expects to use the net proceeds of the current Notes offering for general corporate purposes, including the funding of a portion of its 2013 capital development plan.


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