Gulfport 2Q: New Board, New Leadership, “Lumpy” Production

Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), emerged from bankruptcy in May with a new board and new top management (see Gulfport Energy Emerges from Bankruptcy w/New Board, CEO/CFO Gone). Gulfport's new management issued its first quarterly update on Friday. The company's new focus, at least for the next year: Keep production steady at 1 Bcf/d (billion cubic feet per day), and keep spending for drilling even at $300 million per year.

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