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Gulfport Energy is a large, independent oil and natural gas company with a market capitalization of just over $2.5 billion. Since its formation in 1997, the company has focused on exploring and developing oil and natural gas properties throughout North America. This aim has helped Gulfport Energy become one of the biggest producers of natural oil in the United States.
The company is based in the Oklahoma City. It holds good-sized acreages in various rich oil and natural gas fields in Ohio, Louisiana, Oklahoma, Canada and overseas countries like Thailand. These include the Utica Shale, SCOOP Springer, SCOOP Woodford, the Louisiana Gulf Port and the Alberta Oil Sands. Gulfport Energy owns this latter stake through a 25 percent interest in Grizzly Oil Sands ULC. The firm also holds a 24 percent equity interest in Mammoth Energy Services, Inc.
However, most of Gulfport Energy’s operations revolve around the exploration, development and production of oil and natural gas in the Louisiana Gulf Coast. Its work is concentrated in the Hackberry and West Coast Blanche Bay fields. It also owns working and royalty interests in Louisiana’s Golden Meadow, Bayou Pigeon, Bayou Long, Deer Island, Napoleonville and Bayou Penchant fields. Today, it is estimated that Gulfport Energy has interests in at least 100 productive gas and oil wells, as well as proved reserves of over 23 million barrels of oil and natural gas.
Gulfport Energy was formed in 1997. The company started out with working assets in WRT Energy, as well as a 50 percent interest in the West Coast Blanche Bay. Between 1997 and 1998, the firm’s focus was on cleaning out its balance sheet and creating a stronger asset base. It accomplished this by selling a number of struggling assets. The company was then officially incorporated in 1998.
Phase two of Gulfport Energy’s development zeroed in on growing its cash flow and production capacity from the West Coast Blanche Bay (WCCB) fields. During this period that spanned from 1998 until 2005, the company developed an unshakable track record of successful drilling and 3D technological innovation at WCCB.
This opened up numerous opportunities for expansion and diversification. Gulfport Energy became a publicly-traded company listed on NASDAQ in 2006. It then went on to drill the first exploratory wells at Hackberry field, acquire large acreages in the Canadian Oil Sands, launch its famous core drilling program and acquire interests in Thailand’s Phu Horm natural gas field.
These changes sparked a trend of resource addition and development that continues even today. Gulfport Energy has grown into a multinational player in the energy sector, with interests in North America, the Permian Basin, Thailand, SCOOP and the Utica Shale. It has also contributed to certain interests and service investments in various companies like Mammoth Energy, and runs numerous innovative drilling programs.
Gulfport Energy focuses on cultivating a spirit of entrepreneurship into its ranks, right from the management teams and trickling down. This means that innovation and skill development is a significant part of its corporate culture. Furthermore, the company’s core technical and management teams are made up of highly-skilled and experienced oil and gas professionals deployed in its various regions of operation.
Gulfport Energy also continuously leverages emerging technological advancements related to the energy industry. This allows the company to fully exploit its principal oil and gas interests while exploring other long-term opportunities to maximize its overall potential and profits. This bullish approach is a defining characteristic of Gulfport Energy’s approach to business and has enabled it to stay on the front line of meeting rising global demands for the production of oil and natural gas.
Furthermore, the company believes in maintaining a high level of financial discipline. This allows it to maintain a high level of flexibility and liquidity. This charge is led by Gulfport Energy’s Chairman, David L. Houston, as well as its President, CEO and Director, Michael G. Moore.
Gulfport Energy has a straightforward business strategy that simply focuses on growth. To this end, its main target is creating a diverse portfolio of assets by investing first in emerging interests. Furthermore, it also aims to develop and maintain a conservative capital structure. This involves keeping the level of debt low, which allows for greater flexibility to pursue acquisitions as soon as they emerge.
A core focus on geology and geophysics also creates massive advantages for the company. It has actually enabled Gulfport Energy to obtain first-mover advantages in many of the most productive interests in America.
Today, the company is well positioned to achieve massive success and continues to ensure this by developing efficient operations in its primary oil and gas fields. This will provide a steady stream of cash flow and exponential growth. Gulfport Energy will continue focusing on acquiring acreages in emerging plays, as well as investing in high-impact projects in order to ensure long-term opportunities for growth and expansion.
3001 Quail Springs Parkway
Oklahoma City, OK 73134