Gulfport Energy Can't Move Ahead With $26M Contract Row

Law360 (March 2, 2020, 9:36 PM EST) -- A Texas judge has rejected Gulfport Energy Corp.’s allegation that an oil and gas exploration company improperly backed out of a $26 million deal to acquire Marcellus shale assets in Ohio.

Tarrant County District Court Judge Kimberly Fitzpatrick on Thursday granted summary judgment in a brief order for Quantum Energy Partner-backed TH Exploration LLC, or Tug Hill, which argues that it was under no obligation to pay for the assets because Gulfport Energy had not fulfilled all of the terms of the purchase and sale agreement, according to a Thursday order.

Tug Hill argued that Gulfport was required to obtain releases...

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