Gulfport Energy Corp. has named David M. Wood, a 40-year oil and gas industry veteran, as its new CEO, ending a nationwide search after Michael Moore resigned over spending misconduct allegations.
Wood, who started his career as a well site geologist in Saudi Arabia, comes to Gulfport from Arsenal Resources LLC, where he most recently served as chairman and was previously CEO. Privately held Arsenal, which operates a 208,000 net acre Marcellus Shale position in West Virginia, is a portfolio company of the energy-focused private equity firm First Reserve Corp.
Wood also served as a senior adviser to First Reserve and has served on several portfolio company boards. He currently serves on Lilis Energy Inc.’s board. Wood also spent more than 17 years at Murphy Oil Corp., where he was CEO from 2009-2012.
Moore took the helm in 2014 and drove efficiency gains in the company’s core Utica Shale assets, and oversaw its entry into the South Central Oklahoma Oil Province, aka the SCOOP. He resigned after allegations surfaced related to his personal use of the company’s chartered aircraft and personal charges on his company credit card.