Gulfport Continues to Grow, Fund Community Projects
MORRISTOWN — A company that has drilled some of the most prolific natural gas wells in the Buckeye State continues to operate in the local region while also making resources available to area nonprofits.
Gulfport Energy has a large foothold in the Appalachian Basin with about 215,000 net acres under lease in the core of the dry gas, wet gas and condensate windows of the play, according to its website. In our region, it is tapping the Utica Shale, a rock layer deposited more than 400 million years ago that is rich with natural gas and associated liquids. The company also aims to develop production capabilities in the Point Pleasant formation, a submember of the Utica.
Gulfport’s roots date back to 1997, when the company was formed from the assets of WRT Energy and a 50 percent working interest in the West Cote Blanche Bay field contributed by DLB Oil and Gas. Between 199 and 2005, Gulfport focused on production and cash flow growth and created a track record of successful drilling.
The company began to expand and diversify in 2005. It amassed solid acreage position in Canadian Oil Sands and acquired interest in Phu Horm natural gas field in Thailand. A couple year later, Gulfport acquired its initial acreage position in the Permian Basin and expanded through acquisitions, including a larger interest in a second natural gas field in Thailand. Around the same time, the company secured a sizable position in the Utica Shale.
Today, the company continues to develop that acreage, including at several site in the Egypt Valley area of Belmont County. In 2017, Gulfport operated seven of the top 20 largest producing gas wells in Ohio, all in Belmont County.
As the company reaps the benefits of those successes, it is also sharing its wealth.
The Gulfport Energy Fund at the Foundation for Appalachian Ohio regularly provides grants to support organizations and projects focused on health and human services and environmental stewardship. Nonprofit and public organizations in Belmont, Guernsey, Harrison, Jefferson, Monroe and Noble counties are eligible to apply. Applications are available during each grant cycle on FAO’s website at AppalachianOhio.org/Gulfport.
“Gulfport looks forward to investing in additional projects in health and human services and environmental stewardship in our service area,” said Mike Moore, CEO and president of Gulfport Energy. “We value the partnership we are able to cultivate with every grantee though the Gulfport Energy Fund and will continue our work to improving the quality of life in each community.”
The Gulfport Energy Fund at FAO was created to support nonprofits, schools and communities in projects that increase quality of life, create access to opportunities or identify and implement a solution for a community need in the counties where Gulfport Energy operates.
The Gulfport Energy Fund holds two grant rounds annually. The first grant round of 2019 will focus on education-related projects.
For more information about the Gulfport Energy Fund, visit AppalachianOhio.org/Gulfport or call 740-753-1111.
Gulfport Energy Corp. 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 sizable acreage position in the Alberta Oil Sands in Canada through its 25 percent interest in Grizzly Oil Sands ULC.
The Foundation for Appalachian Ohio is a regional community foundation serving the 32 counties of Appalachian Ohio. A 501(c)(3) public charity, the foundation creates opportunities for Appalachian Ohio’s citizens and communities by inspiring and supporting philanthropy. For more information about FAO, visit www. AppalachianOhio.org.