OKLAHOMA CITY – Gulfport Energy Corporation announced it will acquire additional acreage in the Utica Shale, associated assets and incremental firm transportation commitments from from Aubrey McClendon-backed American Energy for about $406 million.
Among the properties involved:
• Contiguous bolt-on acreage acquisitions totaling 35,325 net acres in Monroe, Belmont and Jefferson counties in Ohio
• An 11-mile gas-gathering system that is operational in Monroe County to support near-term development
• An incremental 287,000 MMBtu per day of firm transportation commitments, which provide access to favorable pricing points outside of the Appalachian Basin
When the deal is completed, Gulf Energy will hold 243,000 acres under lease in the shale play.