Each one in plain English, with the numbers worked through for a shareholder.
10 Dec 2018substantial holder notice● Neutral
Firefly Value Partners, LP, FVP Master Fund, L.P, FVP GP, LLC, Firefly Management Company GP, LLC, Ryan Heslop, Ariel Warszawski disclosed a new substantial GULFPORT ENERGY CORP shareholding (7.70% of votes).
Gulfport's lenders reaffirmed its borrowing base at $1.4 billion and gave the company more room to buy back its own stock - the last of a long run of steadily expanding credit terms before the market turned against the company in 2019.
Ryan Heslop, Ariel Warszawski, Firefly Value Partners, LP, FVP GP, LLC, Firefly Management Company GP, LLC, FVP Master Fund, L.P reported a GULFPORT ENERGY CORP shareholding of 7,976,196 shares (4.60% of votes) in a periodic institutional filing.
Gulfport signed Amendment No. 2 to its pressure pumping agreement with Stingray Pressure Pumping, a Mammoth Energy Services subsidiary. It extended the term from September 2018 to December 31, 2021, expanded the service area to Ohio and Oklahoma, and suspended services from July 1 to September 30, 2018.
Gulfport reported owning 9,943,645 shares of Mammoth Energy Services, about 22.2% of the company, after selling 1,235,600 shares to underwriters at $38.01 each on June 29, 2018.
GULFPORT ENERGY CORP shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
At what would prove to be Gulfport's peak, its lenders cut loan rates further and raised the borrowing base to $1.4 billion, while also giving the company new flexibility to buy back its own stock using proceeds from investment sales.