格尔夫波特 Enters Into 重组 Support Agreement for Pre-Arranged Plan of Reorganization to Reduce Debt by Approximately $1.250亿美元，大幅改善成本结构

开始自愿第11章程序 实施财务结构调整

以105美元获得承诺 几百万 新货币 债务人持有融资以支持持续的普通课程运营, 包括支付工资和福利, 卖主和供应商

俄克拉荷马城，11月. 14, 2020 (GLOBE NEWSWIRE) --   金沙赌场 (NASDAQ: GPOR) (the “Company” and together with its wholly owned subsidiaries, “格尔夫波特”) today announced that it has entered into a 重组 Support Agreement (the “RSA”) with over 95% of its revolving credit facility lenders and certain noteholders holding over two-thirds of the outstanding aggregate principal amount of its senior unsecured notes.  Attached to the RSA is a “pre-negotiated” restructuring plan (the “Plan”) that will strengthen 格尔夫波特’s balance sheet, 大幅减少其融资债务, 更低的持续运营成本.  根据RSA和计划，格尔夫波特预计将减少约1美元.250亿美元的融资债务，并大幅减少未来的年度现金利息支出.  格尔夫波特 will also issue $550 million of new senior unsecured notes under the Plan to existing unsecured creditors of certain 格尔夫波特 subsidiaries.  Certain of 格尔夫波特’s noteholders have committed to backstop a minimum new money investment of $50 million in the form of convertible preferred stock. The RSA is designed to allow 格尔夫波特 to move through the restructuring process as expeditiously as possible.

实施RSA和计划所设想的重组, 格尔夫波特 has filed petitions for voluntary relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (“the Court”). 格尔夫波特打算利用这一程序来加强其资产负债表, 重组某些债务, 显著降低中游成本结构, 实现更可持续的资本结构. 格尔夫波特 intends to continue to operate in the ordinary course of business during the restructuring process.

格尔夫波特还宣布已获得262美元.5 million in debtor-in-possession (“DIP”) financing from 格尔夫波特’s existing lenders under its revolving credit facility, 包括1.05亿美元的新资金，将在法院批准后提供. The financing is structured to fund 格尔夫波特’s ordinary course operations during the chapter 11 proceedings, 包括员工工资和福利以及支付给供应商和卖主的款项. 格尔夫波特 has also received a commitment from its existing lenders to provide $580 million in exit financing upon emergence from chapter 11.

大卫·米. 木, 金沙赌场总裁兼首席执行官, 所述, “自2019年格尔夫波特的领导团队重组以来, 我们已采取果断行动精简业务, 加强我们的资产负债表, 专注于现金流的产生, 实行资本纪律, 并推动整个公司的运营效率和成本降低. 尽管做出了这些努力, our large 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. 在努力探索所有可行的战略和财务选择之后, 格尔夫波特’s 董事会 determined that commencing a chapter 11 process is in the best interest of the Company and its stakeholders.”

Mr. 木头继续, “We expect to exit the chapter 11 process with leverage below two times and rapidly delever thereafter due to a much-improved cost structure driven by reduced legacy firm transport commitments and costs. These improvements will significantly improve our ability to generate cash flow and value for our stakeholders going forward.”

Mr. 木头继续, “我要感谢我们的债权人, 为合作伙伴和其他利益攸关方提供资金支持. We also deeply appreciate the hard work of our dedicated employees and their commitment to each other and to our valued business partners. We hope to move through the restructuring process quickly and efficiently and emerge as a stronger company positioned for future success.”

确保其在正常经营过程中继续经营的能力, 格尔夫波特已按惯例向最高法院提出“第一天”动议，寻求各种救济, including authority to maintain operations in accordance with pre-petition practices and to pay certain pre-petition claims for, 除此之外, 员工工资福利, 版税, 以及某些供应商和供应商的义务.

有关格尔夫波特破产法第11章申请的更多信息，请访问 egwd.discover-motors.com/restructuring. 法庭文件和有关索赔程序的信息可在 http://dm.epiq11.com/格尔夫波特. 如有任何疑问，请电邮至本公司理赔代理人 格尔夫波特Info@epiqglobal.com 电话：（888）905-0409（免费）或+1(503)597-7687（国际）.

柯克兰 & Ellis LLP和Jackson Walker L.L.P. 担任Perella Weinberg Partners及其附属公司Tudor Pickering Holt & Co. 担任财务顾问，而阿尔瓦雷斯呢 & 马绍尔金沙赌场是公司的重组顾问.

关于 格尔夫波特
格尔夫波特能源金沙赌场是一家独立的以回报为导向的公司, gas-weighted, exploration and development company and is one of the largest producers of natural gas in the contiguous United States. 总部设在俄克拉荷马城, 格尔夫波特 holds significant acreage positions in the 尤蒂卡页岩 of Eastern Ohio and the 独家新闻 木ford and 独家新闻 Springer plays in Oklahoma. 格尔夫波特有259名员工.

前瞻性陈述
This press release includes “forward-looking statements” for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, 1933年证券法第27A条, 修订的, 以及1934年证券交易法第21E条. 前瞻性陈述金沙赌场是与历史事实无关的陈述. They include statements regarding: (i) the effect of the Chapter 11 reorganization and sufficiency of the financing package; (ii) 格尔夫波特’s ability to continue implementing operating efficiencies and technical developments; and (iii) 格尔夫波特’s ability to capitalize on the reorganization and emerge as a stronger and more competitive enterprise. Although 格尔夫波特 believes the expectations and forecasts reflected in the forward-looking statements are reasonable, 格尔夫波特不能保证他们会证明金沙赌场是正确的. They can be affected by inaccurate or changed assumptions or by known or unknown risks and uncertainties. 重要的风险, assumptions and other important factors that could cause future results to differ materially from those expressed in the forward-looking statements are described under "Risk Factors" in Item 1A of 格尔夫波特’s annual report on Form 10-K for the year ended December 31, 2019 and any updates to those factors set forth in 格尔夫波特's subsequent quarterly reports on Form 10-Q or current reports on Form 8-K (available at http://www.ir.discover-motors.com/all-sec-filings). 格尔夫波特 undertakes no obligation to release publicly any revisions to any forward-looking statements, 报告事件或报告意外事件的发生.

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2020年11月14日上映