OKLAHOMA CITY, Dec. 19, 2019 /PRNewswire/ -- Bison,
Oklahoma's largest water
infrastructure, logistics and solutions provider, today announced
that it has entered into definitive agreements to acquire Gulfport
Energy Corporation's (NASDAQ: GPOR) water infrastructure in the
SCOOP for an upfront payment and other contingent consideration
based on the timing, pace and magnitude of Gulfport's future
development program and water production levels. Simultaneously,
the parties entered into 15-year agreements whereby Bison will
exclusively manage all of Gulfport's water gathering, recycling,
storage, reuse, disposal, transportation, logistics and sourcing
within a dedicated area across Grady, Garvin
and Stephens counties. The
acquired assets include the 15-year agreements, a multi-line water
gathering and delivery system, 2.3 million barrels of storage
capacity, 40,000 barrels per day of recycling capacity, 55,000
barrels per day of freshwater supply capacity, associated real
property and a pending saltwater disposal permit.
North Whipple, CEO of Bison, commented: "Today's announcement is
another major milestone for our company, which has grown
exponentially throughout the year and now serves over 12 E&P
customers dedicated to our infrastructure under long-term
agreements. In addition to serving Gulfport's development for the
next 15 years, these assets will allow us to bring new recycling
and reuse solutions to our customers throughout the SCOOP. We are
proud to have been selected among the many other bidders in this
highly competitive process and believe it is a testament to our
proven track record of responsibly managing water infrastructure of
any size, scale and scope across Oklahoma."
For more information regarding the company, visit our website at
www.BisonOK.com or email us at Media@BisonOK.com.
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SOURCE Bison