Gulfport Energy Corporation, an oil and gas company, completed the acquisition of Paloma Partners III, LLC, also an oil and gas company, for a purchase consideration of approximately US$301.9 million (MM). The company funded the consideration using the proceeds from its equity and debt financing. Paloma owns approximately 24,000 net non-producing acres in the dry gas window in the core area, targeting the Utica Shale, located in Belmont and Jefferson counties, Ohio, the US.

Following the transaction, Gulfport’s holdings in the Utica Shale leasehold are increased to approximately 212,000 gross (208,000 net) acres. Scotia Capital (USA) Inc. and Credit Suisse Securities (USA) LLC acted as financial advisors to Gulfport, while Jefferies LLC acted as financial advisor to Paloma in the transaction. The transaction enables Gulfport to expand its oil and gas asset base in
the Utica Shale, Ohio.

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Profile:

Christopher N. O’Sullivan is the founder and president of Paloma Resources LLC, an oil and gas company. In April 2015, GulfportEnergy Corporation agreed to acquire Paloma Partners III LLC, a subsidiary of Paloma Resources. Born in 1960, Mr O’Sullivan completed high school education from St. John’s School in 1978, and received a Bachelor of Science degree in PetroleumEngineering from The University of Texas, Austin in 1983.

Mr O’Sullivan served as the managing partner of San Juan Partners, L.L.C. He also served as the president, chairman, director and chief financial officer of ICO Inc.

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Mr O’Sullivan is the founder and chairman of Network International, Inc (formerly known as Network Oil Inc), manager of Travis Street
Partners LLC, and president of O’Sullivan Oil & Gas Co Inc. He serves as the chairman of the Holy Rosary Church Capital Campaign.

 

Full Name: Mr. Christopher N. O’Sullivan

Known As: Christopher O’Sullivan

Citizenship: United States of America

Languages: English

Liquidity Event: 31-Aug-2015 Gulfport Energy Corporation completed the acquisition of Paloma Partners III, LLC for a purchase
consideration of approximately $301.9m.