Phase 1: Formation/Asset Focus
- Gulfport Energy was formed in July 1997
- Initial assets were those of WRT Energy and a 50% working interest in the West Cote Blanche Bay (“WCBB”) field contributed by DLB Oil and Gas
- Gulfport divested a number of assets during this period leaving a cleaner balance sheet and focused asset base
Phase 2: Low Risk Development
- Focused on production and cash flow growth from low risk development activities principally in WCBB
- Reprocessed 3-D seismic in WCBB field
- Created a track record of successful drilling
Phase 3: Expansion/Diversification
- Continued successful drilling and growth at the WCBB field
- Conducted a 3-D seismic shoot and drilled first exploratory wells in Hackberry field
- Amassed solid acreage position in Canadian Oil Sands and launched core hole drilling program
- Acquired interest in Phu Horm natural gas field in Thailand
Phase 4: Resource Play Addition
- Acquired initial acreage position in Permian Basin and expanded through acquisitions
- Acquired larger interest in second natural gas field in Thailand
- Secured sizable position in the core of the Utica Shale achieving early entrant advantages
- Began vertical integration efforts in the Utica Shale to secure access to quality services
Phase 5: Resource Development
- Initiated drilling program to begin developing Utica Shale resource and currently actively developing acreage.
- Contributed Permian Basin interests in Diamondback Energy, Inc. IPO.
- Contributed certain services investments into Mammoth Energy Services, Inc. IPO.
- Acquired assets in the core of the SCOOP play and currently actively developing acreage.