Gulfport Energy names new company leader

Oklahoma City’s Gulport Energy Corporation has named a 40-year oil and gas industry veteran, David M. Wood to be its new President and Chief Executive Officer.

He takes over immediately to replace Michael G. Moore who resigned last month after the company learned of his alleged misuse of the corporate aircraft. Wood will also joined Gulfport’s Board of Directors.

Donnie Moore who was Interim CEO during the search for a permanent appointment will remain as the company’s Chief Operating Officer and report to Wood.

Mr. Wood joins Gulfport from Arsenal Resources LLC, a West Virginia focused natural gas producer and First Reserve Corporation portfolio company, where he most recently served as Chairman of its Board of Directors and previously held the role of Chief Executive Officer.

From 2013 to 2016, Mr. Wood served as a Senior Advisor to First Reserve, a premier energy-focused private equity firm, serving on several portfolio company boards. Prior to that, he spent more than 17 years at Murphy Oil Corporation, including as Chief Executive Officer, President, and Director from 2009 until his retirement in 2012.

From 1980 to 1994, Mr. Wood held various senior positions with Ashland Exploration and Production. He began his career as a well-site geologist in Saudi Arabia. Mr. Wood currently serves on the board of Lilis Energy, Inc. (NYSE: LLEX), an exploration and development company operating in the Delaware Basin.

David L. Houston, Chairman of the Gulfport Board, said, “We are very pleased to welcome David as Gulfport’s new chief executive. After an extensive search, the Board is fully confident that David has the right mix of industry vision and experience, leadership skills and deep industry knowledge to lead Gulfport into the future.”