Purchase is addition to $372 million acquisition of Utica acreage in December 2012
HOUSTON, February 15, 2013: Porter Hedges represented a Special Committee of the Gulfport Energy Corporation (“Gulfport”) Board of Directors in the $220 million acquisition of Utica Shale acreage from Windsor Ohio, LLC (“Windsor Ohio”). The purchase includes approximately 22,000 net acres in the Utica Shale in Eastern Ohio and increases Gulfport's leasehold interests in the Utica Shale to approximately 137,000 gross (128,000 net) acres and increases its working interest in the acreage to 93.8%.
This deal follows Gulfport’s purchase of 37,000 net acres in the Utica Shale for $372 million in December 2012.
Gulfport Energy Corporation is an Oklahoma City-based independent oil and natural gas exploration and production company with its principal producing properties located along the Louisiana Gulf Coast.
This transaction was approved by the Special Committee of Gulfport's Board of Directors. Porter Hedges served as legal counsel to the Special Committee and Tudor, Pickering, Holt & Co. served as the financial advisors.
The Porter Hedges deal team included Rob Reedy and Kevin Poli in the corporate practice, Bob Thomas and Mac Marshall in energy practice, and Geoff Schultz from the tax practice.
For additional information, please see the Gulfport press release here.