5th Circuit Lets Gulfport Cancel Pipeline Contract via Bankruptcy

Gulfport Energy has successfully wiggled out of legally-signed and binding long-term contracts with multiple pipeline companies, including deals that move Marcellus/Utica gas through the Rover and Rockies Express (REX) pipelines. In 2020 the Federal Energy Regulatory Commission (FERC) told Gulfport a very loud NO in breaking those contracts (see Gulfport Energy Looks to Cancel Pipeline Contracts via Bankruptcy). Earlier this week, the U.S. Court of Appeals for the Fifth Circuit (5th Circuit) overruled FERC and gave Gulfport a get-out-pipeline-contracts-free-by-declaring-bankruptcy card. It's good for Gulfport but really bad for the entire pipeline industry.

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