Gulfport Energy expands Utica footprint with $87-million acquisition


OKLAHOMA CITY -- Gulfport Energy Corporation has entered into a definitive agreement with a third-party to acquire approximately 12,600 net undeveloped acres in northern Monroe County, Ohio.

The acreage lies in the core of the dry gas window of the Utica shale and has an aggregate purchase price of approximately $87 million. Gulfport plans to fund the acquisition with available cash-on-hand.

This acreage is near or adjacent to Gulfport’s existing acreage position and development plan, and is approximately 50% held by production.

The transaction is expected to close this month.


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