Gulfport Drilling Marcellus (Not Utica) Wells in Belmont Co., OH

Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), emerged from bankruptcy in May 2021 with a new board and top management. In January of this year, the company appointed a new CEO, John Reinhart, the former President and CEO of M-U driller Montage Resources Corporation before that company was gobbled up by Southwestern Energy (see Marcellus Veteran John Reinhart Joins Gulfport Energy as CEO). Yesterday Gulfport issued its second quarter 2023 update. The company made $78 million in net income during 2Q23 versus $216 million in 2Q22, down 64%, which tracks with similar decreases seen in other major M-U drillers.

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