Brief: Gulfport Energy Corp Says On February 7, 2023, Gulfport Finalized A Settlement Agreement With Rover

Gulfport Energy

07/02/2023 21:34

Feb 7 (Reuters) - Gulfport Energy Corp  GPOR.N :
    * GULFPORT ENERGY CORP - ON FEBRUARY 7, 2023, GULFPORT
FINALIZED A
SETTLEMENT AGREEMENT WITH ROVER
    * GULFPORT ENERGY -AS PART OF CHAPTER 11 CASES,
RESTRUCTURING
EFFORTS, FILED MOTIONS TO REJECT CERTAIN FIRM TRANSPORTATION
AGREEMENTS BETWEEN CO, ROVER
    * GULFPORT - PURSUANT TO SETTLEMENT AGREEMENT, GULFPORT AND
ROVER
AGREED THAT FIRM TRANSPORTATION CONTRACTS BETWEEN GULFPORT AND
ROVER WOULD BE REJECTED.
    * GULFPORT -  ONCE GULFPORT PAYS THE $1 MILLION
ADMINISTRATIVE
CLAIM, GULFPORT WILL HAVE NO FURTHER OBLIGATIONS TO ROVER
    * GULFPORT - ONCE APPROVED ROVER WILL RECEIVE ALLOWED $85.9
MILLION CLASS 4A GENERAL UNSECURED CLAIM
    * GULFPORT ENERGY CORP - DURING DECEMBER 2022, COMPANY'S
OPERATIONS WERE IMPACTED BY WINTER STORM ELLIOTT
    * GULFPORT ENERGY -ESTIMATES Q4 2022 PRODUCTION WAS
NEGATIVELY
IMPACTED BY ABOUT 2%, OR 20,000 THOUSAND CUBIC FEET OF NATURAL
GAS EQUIVALENT PER DAY
    * GULFPORT ENERGY CORP - RESTORED AFFECTED PRODUCTION ACROSS
ALL
ITS OPERATING AREAS AND EXPECTS WEATHER-RELATED DOWNTIME TO BE
CONFINED TO Q4

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