The announcement is sourced from Gulfport's own 8-K press-release exhibit, filed May 18, 2021, describing the completed emergence and resulting capital structure.
Perella Weinberg Partners, together with its energy-focused affiliate Tudor Pickering Holt & Co., served as financial advisors to Gulfport in the restructuring, per the release: "Perella Weinberg Partners and its affiliate, Tudor Pickering Holt & Co. served as financial advisors, and Alvarez & Marsal served as restructuring advisor to the Company." No separate creditor-side financial advisor is identified in the excerpt reviewed.
Kirkland & Ellis LLP and Jackson Walker L.L.P. served as legal co-counsel to Gulfport. Alvarez & Marsal served as a distinct restructuring advisor to the company, working alongside but separate from Perella Weinberg's investment-banking role.
Upon emergence, Gulfport reported $853 million of total debt, representing more than $1.2 billion of deleveraging achieved through the Chapter 11 process, and approximately $135 million of liquidity, with net-debt-to-EBITDA of approximately 1.5x at emergence. These figures describe the post-emergence balance sheet rather than a traditional M&A transaction value.
Not disclosed in the reviewed excerpt: the pre-petition debt amount prior to the $1.2 billion of deleveraging, the treatment and recovery rates of specific creditor classes under the Plan, the equity allocation to former creditors versus legacy shareholders, and the identity of any creditor-side financial advisors.