Porter Hedges Represents American Energy-Utica in its $407M Sale of Appalachian Assets to Gulfport Energy Corporation
Porter Hedges represented American Energy – Utica, LLC (AEU), in its sale of undeveloped leasehold interests, producing wells and gathering assets to Gulfport Energy Corporation (NASDAQ: GPOR) for approximately $407 million. In addition, Porter Hedges acted as Oklahoma counsel for AEU in connection with the simultaneous $977 million equity and debt financing.
The asset sale consists of approximately 35,000 net acres in Belmont, Monroe, and Jefferson Counties, Ohio. American Energy – Utica is one of the two operating subsidiaries of Ascent Resources, LLC (formerly American Energy Appalachia Holdings, LLC).