One-Page Deal Sheet
Rhino Resources to Exit Utica Shale Play; Gulfport to Acquire Properties
Gulfport Energy Corp. Rhino Resource Partners Lp
Announced Date
February 27,2014
Transaction Type
Property
Transaction Details: Require Private Equity Subscription
Rhino Resource Partners LP has entered into a binding letter of intent to sell its oil and gas properties in the Utica Shale to Gulfport Energy Corporation for a purchase price of approximately $185 million.
Dave Zatezalo, Chairman of the Board of Directors of Rhino GP LLC, the general partner of the Partnership, stated, "This transaction is extremely significant for Rhino. This allows us to eliminate the company's debt and will give us tremendous financial flexibility. Our goal has been to create value for our unitholders in the energy sector, and this investment has been a great success. In…