Gulfport Energy Corp. cleaned up its balance sheet on Dec. 19 through bond repurchases and the divestiture of a slew of noncore assets with proceeds totaling over $100 million.

The Oklahoma City-based company, which has faced activist investor pressure this year to improve its stock performance, agreed to divest various noncore assets including its water infrastructure assets in the Scoop shale play. In total, Gulfport said it expects to receive about $86 million in up-front proceeds from the divestitures plus future contingent payments in excess of $50 million.

Gulfport also revealed that so far during the fourth quarter it had repurchased $85.6 million aggregate principal amount of unsecured senior notes for $60.1 million in cash. This brings total debt repurchases year-to-date to $190.1 million for $140.4 million cash representing a total discount capture of $49.6 million.

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