The Edmond Sun

Business

January 17, 2014

Gulfport Energy Corporation announces proposed sale

EDMOND — Gulfport Energy Corporation recently announced that Blackhawk Midstream LLC, an entity in which Gulfport owns a 50 percent interest, has entered into definitive agreements with Summit Midstream Partners LLC for the sale to Summit Investments of Blackhawk’s equity interest in two entities, Ohio Gathering Company LLC and Ohio Condensate Company LLC (together, Ohio Gathering).

Blackhawk has agreed to sell its equity interest in Ohio Gathering for a purchase price of $190 million. Ohio Gathering is currently owned by MarkWest Utica EMG LLC and Blackhawk. Ohio Gathering owns, operates and is developing significant midstream infrastructure in southeastern Ohio consisting of a liquids-rich natural gas gathering system, a dry natural gas gathering system and a condensate stabilization, storage and terminaling facility in the core of the Utica Shale play. The transaction is expected to close by Jan. 31, subject to customary closing conditions.

Gulfport Energy Corporation is an Oklahoma City-based independent oil and natural gas exploration and production company with its principal producing properties located in the Utica Shale of Eastern Ohio and along the Louisiana Gulf Coast among other holdings.

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