Gulfport Energy Signals It Wants to Buy Another Ohio Driller

Wow, what a difference four years can make! In May 2021, Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), emerged from bankruptcy with a new board and new management (see Gulfport Energy Emerges from Bankruptcy w/New Board, CEO/CFO Gone). Later in 2021, the rumors began to swirl that Gulfport was looking to sell itself (see Big News: OH Utica Driller Gulfport Energy Looking to Sell Itself). In the spring of 2022, the rumors centered on a combo with (sale to) fellow Ohio driller Ascent Resources (see Rumor: Gulfport Energy in Talks to Merge with Ascent Resources). None of the rumors came true. In last week's first quarter update, Gulfport CEO John Reinhart indicated his company is now looking to DO the buying, rather than be bought.

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