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Reevemark is handling Gulfport Energy’s Chapter 11 filing that will shed $1.25B in debt from the company's balance sheet.
The Oklahoma City-based natural gas producer is the latest energy company to declare bankruptcy as energy prices plummet due to falling demand during the COVID-19 pandemic.
The company lost $561M during the second quarter on revenues of $132.4M
CEO David Wood said Gulfport’s “legacy debt burden in addition to significant legacy firm transportation commitments created a balance sheet and cost structure that was unsustainable in the current market environment.”
He expects Gulfport will emerge from Chapter 11 with a “much-improved cost structure” allowing it to “significantly improve our ability to generate cash flow and value for our stakeholders going forward.”
Reevemark’s Hugh Burns, Paul Caminiti and Nicholas Leasure represent Gulfport.
Prosek Partners represents UK activist investor Palliser Capital, which claims Japan’s Toto Ltd, the country's top toilet bowl maker, ranks as an undervalued AI asset play.
New York’s IGB Group is providing strategic communications services to Zim Integrated Shipping Services, which has 129 vessels, as the Israeli company is acquired by Germany’s Hapag-Lloyd in a deal valued at $4.2B.
Prosek Partners represents Nuveen as it acquires London-based Schroders, which relies on Brunswick Group for PR counsel, in a $13.5B deal.
Qualcomm has recruited Brett Simpson for the senior VP-IR slot at the San Diego-based wireless technology company.
Reevemark handles Eddie Bauer LLC as the retailer inks a Chapter 11 restructuring pact that has it conducting liquidation sales at its US and Canadian stores while working to find a buyer for either all of or part of the chain.
