Gulfport Energy announces possible high-yield notes offering

By Paul A. Harris

Portland, Ore., Dec. 17 - Gulfport Energy Corp. announced a possible private placement of high-yield notes in a Monday press release.

The deal could come in conjunction with an underwritten public offering of 9 million shares of its common stock.

The underwriters will have an option to purchase up to an additional 1.35 million shares from Gulfport solely to cover over-allotments.

Gulfport intends to use the proceeds from the shares and the notes to fund its previously announced pending acquisition of oil and gas assets in the Utica Shale in Ohio and for general corporate purposes, which may include expenditures associated with Gulfport's 2013 drilling programs.

Credit Suisse Securities (USA) LLC is acting as the bookrunner in the share offering.

Gulfport Energy is an Oklahoma City-based independent oil and natural gas exploration and production company.

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