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Oklahoma business briefcase for May 21

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Gulfport Energy hires general counsel

Gulfport Energy Corp. announced Monday it hired Patrick K. Craine to be its general counsel and corporate secretary.

Craine, who had been deputy general counsel at Chesapeake Energy Corp., has more than 20 years of senior-level experience handling a broad range of securities, corporate, regulatory, governance, compliance and litigation matters, with particular expertise in the energy industry, officials said.

“His experience, knowledge and stellar reputation will be enormously helpful as we continue to move Gulfport forward,” Gulfport CEO David M. Wood said.

Red Wolf joins Anadarko Basin

Red Wolf Natural Resources, an Oklahoma City-based oil and gas exploration and production company, announced Monday it has acquired about 56,000 acres and associated production in Oklahoma’s SCOOP, STACK and Merge plays in the Anadarko Basin.

Officials said the assets feature proven well results in primary target zones, involve contiguous acreage positions in each play to support future development and have existing infrastructure and agreements with top-tier midstream operators.

The release didn’t disclose how much Red Wolf paid to make the acquisitions.

Officials said Red Wolf was formed in February after receiving an equity commitment from Pearl Energy Investments.

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