(Bloomberg) — Natural gas producer Gulfport Energy Corp. filed for bankruptcy, joining a slew of U.S. energy companies that are collapsing after the global pandemic deepened their struggle with low prices and too much debt.The Oklahoma City-based driller filed a Chapter 11 petition on Nov. 13 in U.S. Bankruptcy Court in Houston, declaring an estimated $2.5 billion in liabilities as of Sept. 30.Gulfport, which produces gas from fields in Ohio and Oklahoma, was grappling to stay afloat even before Covid-19, after a series of acquisitions over the past decade left it too indebted to weather the energy rout. Following pressure …read more
Source:: Yahoo Finance
