Natural Gas Producer Gulfport Energy Files for Bankruptcy

Natural gas explorer and producer Gulfport Energy Corp filed for Chapter 11 bankruptcy on Friday, becoming the latest to succumb to weak crude prices as COVID-19 pandemic crimps fuel demand.

In a statement on Saturday, Gulfport said it has secured $262.5 million in debtor-in-possession financing from its existing lenders under its revolving credit facility, including $105 million in new money that will be available upon court approval.

By Rama Venkat