Restructuring Information
On May 17, 南宫娱乐官网 successfully completed its restructuring process and emerged from chapter 11 with a strengthened balance sheet and materially improved midstream cost structure. This follows confirmation of the Company鈥檚 Plan of Reorganization (the 鈥淧lan鈥�) by the U.S. Bankruptcy Court for the Southern District of Texas (the 鈥淐ourt鈥�) on April 28, 2021.
As contemplated by the Plan, 南宫娱乐官网 has exited bankruptcy with a new Board of Directors; a strengthened balance sheet, with $853 million of total debt representing more than $1.2 billion of deleveraging through the Chapter 11 process; and approximately $135 million of liquidity. At emergence, 南宫娱乐官网鈥檚 net-debt-to-EBITDA is approximately 1.5x. 南宫娱乐官网鈥檚 new common shares will be listed on the NYSE under the ticker symbol "GPOR" and is expected to commence trading on May 18, 2021.
南宫娱乐官网 is beginning this new chapter with a strategy focused on continuing to reduce costs and generating sustainable free cash flow in an effort to drive shareholder value. In addition, the Company is committed to an emphasized focus on sustainability, and 南宫娱乐官网 will continue to prioritize safety, environmental stewardship, and maintaining strong relationships with the communities in which it operates.
Additional Information
If you have additional questions about the process, please refer to the materials on this site or visit our claims agent鈥檚 website at , or call our claims agent at (888) 905-0409 (toll free) or +1 (503) 597-7687 (international).
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