Gulfport Energy to Acquire Additional 22,000 Net Acres in Utica Shale, Ohio, from Windsor Ohio for US$220MM: Acquisition to Increase the Company’s Net Production by 205.7%

Pages: 5 Published: February 01, 2013 Report Code: GDGE0450MA

  • Overview
  • Contents
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Gulfport Energy Corporation (Gulfport) agreed to acquire an additional 22,000 net acres in the Utica Shale of Eastern Ohio, from Windsor Ohio LLC (Windsor), an affiliate of Wexford Capital LP, for a purchase consideration of approximately US$220.4MM. The transaction excludes the acquisition of 14 existing wells and 16 proposed future wells, along with certain acreage surrounding each well. Tudor, Pickering, Holt & Co., LLC is acting as financial advisor to Gulfport Energy in the transaction. The transaction is expected to be completed prior to the end of February 2013.

Scope

Rationale behind Gulfport Energy's Plan to acquire additional 22,000 net acres in Utica Shale, Ohio, from Windsor Ohio

To know about the impact of the acquisition on Gulfport’s net production.

Geography Covered- US

Reasons to Buy

To understand the impact of the proposed acquisition on Gulfport’s working interest in its Utica shale acreage and on its net production in 2013

To know that the acquisition of additional acreage is part of Gulfport’s plan to build an oil-focused asset base and diversify its geographic presence

Table of Contents

1 Table of Contents 1

1.1 List of Tables 1

1.2 List of Figures 1

2 Gulfport Energy to Acquire Additional 22,000 Net Acres in Utica Shale, Ohio, from Windsor Ohio for US$220MM 1

2.1 Deal Overview 1

2.2 Deal in Brief 1

2.3 The Acquisition will Increase Gulfport’s Working Interest in its Acreage in the Utica Shale to

93.8% 2

2.4 The Acquisition of Additional Acreage is Part of Gulfport’s Plan to Build an Oil-focused Asset Base and Diversify its Geographic Presence 3

2.5 Deal Financials and Valuations 4

3 Appendix 5

3.1 Abbreviations 5

3.2 Sources 5

3.3 Methodology 5

3.4 Contact Us 6

3.5 Disclaimer 6

List of Tables

Table 1: Gulfport, Asset Transaction Activity, 2007 to Present 3

Table 2: Gulfport, Budgeted E&P Capital Expenditures by Location (US$MM), 2012–2013 4

Table 3: Companies Involved 4

Table 4: Financials of the Deal 4

Table 5: Advisor Information 4

Table 6: Target Information 4

Table 7: Target’s Acreage Information 4

Table 8: Company Valuation Multiples 5

Table 9: Acquirer Information 5

Table 10: Vendor Information 5

List of Figures

Figure 1: Gulfport, Acreage in the Utica Shale, US, 2012 2

Figure 2: Gulfport, Net Production, mmboe, 2009–2013 2

Figure 3: Gulfport, Budgeted E&P Capital Expenditures by Location (%), 2012–2013 4

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