Brief: Gulfport Energy Corp Says Co, Units Finalized Settlement Agreement With TC Energy Approved By Bankruptcy Court For Southern District Of Texas On Sept 21

Gulfport Energy

27/09/2021 11:29

Sept 27 (Reuters) - Gulfport Energy Corp  GPOR.N :
    * GULFPORT ENERGY CORP -  CO, UNITS FINALIZED SETTLEMENT
AGREEMENT
WITH TC ENERGY APPROVED BY BANKRUPTCY COURT FOR SOUTHERN
DISTRICT OF TEXAS ON SEPT 21
    * GULFPORT ENERGY CORP -  CO, TC ENERGY AGREED THAT FIRM
TRANSPORTATION CONTRACTS BETWEEN COS WOULD BE REJECTED WITHOUT
ANY FURTHER PAYMENT, OBLIGATION
    * GULFPORT ENERGY CORP - IN EXCHANGE, GULFPORT AGREED TO
MAKE A
PAYMENT OF $43.75 MILLION IN CASH TO TC ENERGY
    * GULFPORT ENERGY CORP - OVER TIME, WILL RECEIVE
DISTRIBUTIONS ON
ACCOUNT OF ASSIGNED CLAIMS PURSUANT TO CO'S CHAPTER 11 PLAN OF
REORGANIZATION
    * GULFPORT ENERGY CORP - ALSO REACHED AGREEMENT IN PRINCIPLE
WITH
STINGRAY PRESSURE PUMPING LLC THAT FULLY RESOLVES LONGSTANDING
LITIGATION
    * GULFPORT ENERGY CORP - UNDER SETTLEMENT, STINGRAY, CO HAVE
AGREED TO DROP ALL OF CLAIMS BROUGHT AGAINST EACH OTHER IN
DELAWARE COURT, BANKRUPTCY COURT

Source: [ID: https://bit.ly/39Iud10]
Further company coverage:  GPOR.N 

 ((Reuters.Briefs@thomsonreuters.com;))