Gulfport Spending $100M to Lease More OH Land in Belmont, Monroe

Gulfport Energy is the third-largest driller in the Ohio Utica Shale (by the number of wells drilled). The company emerged from bankruptcy four years ago with a new board and new management in May 2021 (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). Those rumors have long since expired. The company recovered and has done great since that time. Gulfport CEO John Reinhart said during yesterday's quarterly update that the company is planning to spend up to $100 million in the coming months to lease more Utica acreage, primarily in Belmont but also a little in Monroe counties in Ohio.

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