One-Page Deal Sheet
Blackhawk to Shed Utica Midstream Entities in Deal with Summit
Summit Midstream Partners, Lp Blackhawk Midstream LLC, Gulfport Energy Corp.
Announced Date
December 20,2013
Transaction Type
Asset
Transaction Details: Require Private Equity Subscription
Gulfport Energy Corporation has reported that Blackhawk Midstream LLC, an entity in which Gulfport owns a 50% interest, has entered into definitive agreements with Summit Midstream Partners, LLC for the sale to Summit Investments of Blackhawk's equity interest in two entities, Ohio Gathering Company, LLC and Ohio Condensate Company, LLC.
Blackhawk has agreed to sell its equity interest in Ohio Gathering for a purchase price of $190 million.
Ohio Gathering is currently owned by MarkWest Utica EMG, LLC and Blackhawk. Ohio Gathering owns, operates and is developing significant midstream…