Gulfport Energy settles with TC Energy for $43.75M; resolves contract rejection dispute

GULFPORT ENERGY CORP

Gulfport pays $43.75M cash to TC Energy for assignment of damages claims from rejected firm transportation contracts.
Gulfport expects to recover all or substantially all of $43.75M via distributions from Chapter 11 trust; material portion in next 12 months.
Settlement with Stingray Pressure Pumping: all claims and counterclaims dropped in Delaware Court and Bankruptcy Court.
Bankruptcy Court approved settlement on Sept 21, 2021; settlement effective date expected Sept 23, 2021.

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