Gulfport Energy Corporation Names Michael Moore Chief Executive Officer, Ross Kirtley Chief Operations Officer and Appoints Michael Reddin and Michael Moore to Its Board of Directors
OKLAHOMA CITY, April 23, 2014 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (Nasdaq:GPOR) ("Gulfport") today announced that its Board of Directors has concluded its nationwide search with Preng & Associates for a Chief Executive Officer. The Board is pleased to announce that Michael G. Moore has been promoted to Chief Executive Officer and has joined the Company's Board of Directors and J. Ross Kirtley has been promoted to Chief Operating Officer. In addition, following a concurrent search for directors also led by Preng & Associates, Michael S. Reddin has been appointed to the Company's Board of Directors.
David L. Houston, Chairman of the Board of Directors, commented "The Board is very pleased to announce the promotion of Mr. Moore to Chief Executive Officer and his appointment to the Board of Directors and the promotion of Mr. Kirtley to Chief Operating Officer. The Board believes Mr. Moore and Mr. Kirtley will provide the leadership required to pursue the Company's long-term growth initiatives and lead the Company to continued success. Additionally, Mr. Reddin brings upstream engineering and operations expertise, prior public company board experience and over 30 years of energy industry experience that will further strengthen our Board. We look forward to leveraging Mr. Reddin's expertise as we embark on the next phase of the Company's growth."
Mr. Moore, formerly interim Chief Executive Officer and Chief Financial Officer, has been promoted to Chief Executive Officer. In connection with this promotion, Mr. Moore has also been appointed to the Company's Board of Directors. Mr. Moore joined Gulfport in July 2000 as its Chief Financial Officer and was appointed President of the Company in August 2013.
Mr. Kirtley, formerly Chief Operating Officer for the Company's Ohio activities, has been promoted to Chief Operating Officer. Mr. Kirtley joined Gulfport in May 2013 and was appointed Chief Operating Officer for the Company's Ohio activities in September 2013.
Mr. Reddin joins the Company's Board of Directors effective immediately. Mr. Reddin currently serves as the Chairman, President and Chief Executive Officer of Davis Petroleum Corporation ("Davis Petroleum"), an independent private oil and gas exploration, development, acquisitions and production company focused primarily in the onshore Gulf Coast and deep-water Gulf of Mexico. Prior to joining Davis Petroleum in 2009, Mr. Reddin served as President and Chief Executive Officer of Kerogen Resources, Inc. ("Kerogen Resources"), an early-stage exploration and production company focused on the development of North American shale plays. Before Kerogen Resources, Mr. Reddin spent 2000 through 2008 at BP America Inc. focused in the development of its Gulf of Mexico assets, where he served as Vice President of Production, Vice President of Development and several other leadership roles. Earlier, Mr. Reddin served in technical, financial and asset management positions of increasing responsibility at ARCO Oil & Gas Company and Vastar Resources, Inc. Mr. Reddin currently serves on the Board of Directors of Davis Petroleum and previously served as a Director of Berry Petroleum Company, Kerogen Resources and the Rocky Mountain Oil and Gas Association. Mr. Reddin earned a bachelor's degree in mechanical engineering from Texas A&M University.
Gulfport Energy Corporation is an Oklahoma City-based independent oil and natural gas exploration and production company with its principal producing properties located in the Utica Shale of Eastern Ohio and along the Louisiana Gulf Coast. In addition, Gulfport holds a sizeable acreage position in the Alberta Oil Sands in Canada through its 24.9% interest in Grizzly Oil Sands ULC and has an equity interest in Diamondback Energy, Inc., a NASDAQ Global Select Market listed company.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Gulfport expects or anticipates will or may occur in the future, future capital expenditures (including the amount and nature thereof), business strategy and measures to implement strategy, competitive strength, goals, expansion and growth of Gulfport's business and operations, plans, market conditions, references to future success, reference to intentions as to future matters and other such matters are forward-looking statements. These statements are based on certain assumptions and analyses made by Gulfport in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results and developments will conform with Gulfport's expectations and predictions is subject to a number of risks and uncertainties, general economic, market, credit or business conditions; the opportunities (or lack thereof) that may be presented to and pursued by Gulfport; competitive actions by other oil and gas companies; changes in laws or regulations; and other factors, many of which are beyond the control of Gulfport. Information concerning these and other factors can be found in the Company's filings with the Securities and Exchange Commission, including its Forms 10-K, 10-Q and 8-K. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and there can be no assurances that the actual results or developments anticipated by Gulfport will be realized, or even if realized, that they will have the expected consequences to or effects on Gulfport, its business or operations. Gulfport has no intention, and disclaims any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.
CONTACT: Investor Contacts: Paul K. Heerwagen IV firstname.lastname@example.org 405-242-4888 Jessica R. Wills email@example.com 405-242-4421
Released April 23, 2014