Gulfport in Settlement With TC Energy, Ends Stingray Litigation

Settlement agreement with TC approved by the Bankruptcy Court for the Southern District of Texas on Sept. 21, with Gulfport agreeing to pay $43.75m in cash to TC: filing.

• Gulfport expects to recover all, or “substantially all,” of the $43.75m through assigned claims pursuant to its Chapter 11 reorganization plan
• Also, Gulfport and Stingray Pressure Pumping agreed to drop all of the claims brought against each other in Delaware Court and Bankruptcy Court
• NOTE, from Sept. 23: Gulfport Energy Working With Adviser on Possible Sale: Reuters

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