Gulfport Energy Expands Core Utica Inventory Through Ohio Lease Sale Acquisitions

Gulfport Energy Expands Core Utica Inventory Through Ohio Lease Sale Acquisitions

Gulfport Energy Corporation (NYSE: GPOR) (“Gulfport” or the “Company”) today announced the successful acquisition of approximately 4,700 net undeveloped acres in the core of the Ohio Utica in Belmont County, Ohio, through the Ohio Oil and Gas Land Management Commission State Land Lease Sale for a total purchase price of approximately $83.0 million.

Key Highlights

Large, contiguous acquisition of approximately 4,700 net undeveloped acres secured in a highly competitive lease sale environment, adjacent to existing operations and recently acquired discretionary acreage

High-quality core acreage position expected to drive development efficiency, unlock operational synergies and maximize utilization of existing infrastructure and midstream capacity