Exhibit 99.1

Press Release

Gulfport Energy Corporation Reports First Quarter 2016 Results

OKLAHOMA CITY (May 4, 2016) Gulfport Energy Corporation (NASDAQ: GPOR) (“Gulfport” or the “Company”) today reported financial and operational results for the quarter ended March 31, 2016 and provided an update on its 2016 activities. Key information for the first quarter of 2016 includes the following:

Michael G. Moore, Chief Executive Officer, commented, “The first quarter of 2016 was another solid operational quarter for Gulfport, highlighted by strong production from our Utica Shale assets and our continued focus on efficiencies that led to decreased costs across the board. In addition, Gulfport improved upon our already solid balance sheet, completing a successful equity offering which provides us with flexibility and optionality as we contemplate the appropriate levels of activity for 2017.”

Page 1 of 13

Financial Results

For the first quarter of 2016, Gulfport reported a net loss of $242.3 million, or $2.17 per diluted share, on oil and natural gas revenues of $157.0 million. For the first quarter of 2016, EBITDA (as defined and reconciled below) was $58.3 million and cash flow from operating activities before changes in operating assets and liabilities (as defined and reconciled below) was $83.2 million. Gulfport’s GAAP net loss for the first quarter of 2016 includes the following items:

Excluding the effect of these items, Gulfport’s financial results for the first quarter of 2016 would have been as follows:

Production and Realized Prices

Gulfport’s net daily production for the first quarter of 2016 averaged approximately 692.2 MMcfe per day. For the first quarter of 2016, Gulfport’s net daily production mix was comprised of approximately 85% natural gas, 9% natural gas liquids and 6% oil.

Gulfport’s realized prices for the first quarter of 2016 were $2.46 per Mcf of natural gas, $28.45 per barrel of oil and $0.21 per gallon of NGL, resulting in a total equivalent price of $2.49 per Mcfe. Gulfport’s realized prices for the first quarter of 2016 include an aggregate non-cash derivative loss of $7.7 million. Before the impact of derivatives, realized prices for the first quarter of 2016, including transportation costs, were $1.39 per Mcf of natural gas, $26.32 per barrel of oil and $0.22 per gallon of NGL, for a total equivalent price of $1.58 per Mcfe.

Page 2 of 13

GULFPORT ENERGY CORPORATION

PRODUCTION SCHEDULE

(Unaudited)

Gulfport’s estimated April 2016 net production averaged approximately 688 MMcfe per day. Gulfport currently estimates that its second quarter of 2016 net production will range from 664 MMcfe per day to 692 MMcfe per day.

2016 Capital Spending

During the first quarter of 2016, Gulfport’s drilling and completion capital expenditures totaled $74.5 million and leasehold capital expenditures totaled $19.7 million.

Capital Markets Activity

On March 15, 2016, Gulfport closed an upsized underwritten public offering of 16,905,000 shares of the Company’s common stock, including shares the Company issued to the underwriters under a 30-day option to purchase additional shares. The Company received net proceeds of approximately $411.9 million after underwriting discounts, commissions and estimated offering expenses. Gulfport intends to use the net proceeds from this offering primarily to fund a portion of its 2017 capital development plan and for general corporate purposes.

Page 3 of 13

Financial Position and Liquidity

As of March 31, 2016, Gulfport had cash on hand of approximately $454.4 million. In addition, as of March 31, 2016, Gulfport’s revolving credit facility of $700 million was undrawn and had $472.2 million available for future borrowing after giving effect to outstanding letters of credit totaling $227.8 million.

Derivatives

Gulfport has hedged a portion of its expected production to lock in prices and returns that provide certainty of cash flow to execute on its capital plans. The table below sets forth the Company’s hedging positions as of May 4, 2016.

Page 4 of 13

GULFPORT ENERGY CORPORATION

COMMODITY DERIVATIVES - HEDGE POSITION AS OF MAY 4, 2016

(Unaudited)

Page 5 of 13

Operational Update

Utica Shale

In the Utica Shale, Gulfport spud 10 gross (7.1 net) wells and turned-to-sales 15 gross (8.0 net) wells during the first quarter of 2016. During the first quarter, net production from Gulfport’s Utica acreage averaged approximately 670.7 MMcfe per day, an increase of 8% over the fourth quarter of 2015 and an increase of 69% over the first quarter of 2015. Due to increased efficiencies and further reductions in service costs, Gulfport has decreased its total expected well costs by approximately $300,000 per well, relative to the estimates provided in November 2015. At present, Gulfport is operating three horizontal rigs drilling in the play.

Southern Louisiana

At its West Cote Blanche Bay and Hackberry fields, Gulfport performed 17 recompletions at the fields during the first quarter of 2016. During the first quarter, net production at the fields totaled approximately 20.6 MMcfe per day.

2016 Capital Budget and Production Guidance

Gulfport reaffirms its 2016 capital budget and production guidance. The table below summarizes the Company’s full year 2016 guidance:

Page 6 of 13

GULFPORT ENERGY CORPORATION

COMPANY GUIDANCE

Presentation

An updated presentation has been posted to the Company’s website. The presentation can be found at www.gulfportenergy.com under the “Company Information” section on the “Investor Relations” page. Information on the Company’s website does not constitute a portion of this press release.

Page 7 of 13

Conference Call

Gulfport will hold a conference call on Thursday, May 5, 2016 at 8:00 a.m. CDT to discuss its first quarter of 2016 financial and operational results and to provide an update on the Company’s recent activities.

Interested parties may listen to the call via Gulfport’s website at www.gulfportenergy.com or by calling toll-free at 866-373-3408 or 412-902-1039 for international callers. The passcode for the call is 13622396. A replay of the call will be available for two weeks at 877-660-6853 or 201-612-7415 for international callers. The replay passcode is 13622396. The webcast will also be available for two weeks on the Company’s website and can be accessed on the Company’s “Investor Relations” page.

About Gulfport

Gulfport Energy Corporation 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 sizeable acreage position in the Alberta Oil Sands in Canada through its 25% interest in Grizzly Oil Sands ULC.

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Gulfport expects or anticipates will or may occur in the future, future capital expenditures (including the amount and nature thereof), business strategy and measures to implement strategy, competitive strength, goals, expansion and growth of Gulfport’s business and operations, plans, market conditions, references to future success, reference to intentions as to future matters and other such matters are forward-looking statements. These statements are based on certain assumptions and analyses made by Gulfport in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results and developments will conform with Gulfport’s expectations and predictions is subject to a number of risks and uncertainties, general economic, market, credit or business conditions; the opportunities (or lack thereof) that may be presented to and pursued by Gulfport; Gulfport’s ability to identify, complete and integrate acquisitions of properties and businesses; competitive actions by other oil and gas companies; changes in laws or regulations; and other factors, many of which are beyond the control of Gulfport. Information concerning these and other factors can be found in the Company’s filings with the Securities and Exchange Commission, including its Forms 10-K, 10-Q and 8-K. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements and there can be no assurances that the actual results or developments anticipated by Gulfport will be realized, or even if realized, that they will have the expected consequences to or effects on Gulfport, its business or operations. Gulfport has no intention, and disclaims any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

Page 8 of 13

Non-GAAP Financial Measures

EBITDA is a non-GAAP financial measure equal to net (loss) income, the most directly comparable GAAP financial measure, plus interest expense, income tax (benefit) expense, accretion expense, depreciation, depletion and amortization and impairment of oil and gas properties. Adjusted EBITDA is a non-GAAP financial measure equal to EBITDA less non-cash derivative loss, loss from impairment of Grizzly equity investment and loss from equity method investments. Cash flow from operating activities before changes in operating assets and liabilities is a non-GAAP financial measure equal to cash provided by operating activity before changes in operating assets and liabilities. Adjusted net income is a non-GAAP financial measure equal to pre-tax net loss less non-cash derivative loss, loss from impairment of oil and gas properties, impairment of Grizzly equity investment and loss from equity investments plus tax benefits excluding adjustments. The Company has presented EBITDA and adjusted EBITDA because it uses these measures as an integral part of its internal reporting to evaluate its performance and the performance of its senior management. These measures are considered important indicators of the operational strength of the Company’s business and eliminate the uneven effect of considerable amounts of non-cash depletion, depreciation of tangible assets and amortization of certain intangible assets. A limitation of these measures, however, is that they do not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in the Company’s business. Management evaluates the costs of such tangible and intangible assets and the impact of related impairments through other financial measures, such as capital expenditures, investment spending and return on capital. Therefore, the Company believes that these measures provide useful information to its investors regarding its performance and overall results of operations. EBITDA, adjusted EBITDA, adjusted net income and cash flow from operating activities before changes in operating assets and liabilities are not intended to be performance measures that should be regarded as an alternative to, or more meaningful than, either net income as an indicator of operating performance or to cash flows from operating activities as a measure of liquidity. In addition, EBITDA, adjusted EBITDA, adjusted net income and cash flow from operating activities before changes in operating assets and liabilities are not intended to represent funds available for dividends, reinvestment or other discretionary uses, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The EBITDA, adjusted EBITDA, adjusted net income and cash flow from operating activities before changes in operating assets and liabilities presented in this press release may not be comparable to similarly titled measures presented by other companies, and may not be identical to corresponding measures used in the Company’s various agreements.

Investor & Media Contact:

Paul Heerwagen – Vice President, Corporate Development

pheerwagen@gulfportenergy.com

405-242-4888

Jessica Wills – Manager, Investor Relations and Research

jwills@gulfportenergy.com

405-242-4421

Page 9 of 13

GULFPORT ENERGY CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

Page 10 of 13

GULFPORT ENERGY CORPORATION

CONSOLIDATED BALANCE SHEETS

(Unaudited)

Page 11 of 13

GULFPORT ENERGY CORPORATION

RECONCILIATION OF EBITDA AND CASH FLOW

(Unaudited)

Page 12 of 13

GULFPORT ENERGY CORPORATION

RECONCILIATION OF ADJUSTED NET INCOME

(Unaudited)

GULFPORT ENERGY CORPORATION

RECONCILIATION OF ADJUSTED EBITDA

(Unaudited)

Page 13 of 13