Sphingan is a crucial exopolysaccharide (EPS) produced by Sphingomonas genus bacteria with wide-ranging applications in fields such as food, medicine, and petroleum. In this study, a novel sphingan, named MT gum, was overproduced from the wild-type strain Sphingomonas sp. MT01 at a yield of 25.6 g/L in a 5 L fermenter for 52 h at 35 °C. The MT gum was mainly composed of D-glucose (65.91%) and L-guluronic acid (30.69%), as confirmed by RP-HPLC, with Mw 7.24 × 10⁵ Da. The MT gum exhibited excellent rheology and pseudoplasticity characteristics while maintaining function in high-temperature and high-salinity environments. The viscosity retention rates of MT gum (0.1%, w/v) were 54.06% (80 °C, 50,000 mg/L salinity) and 34.78% (90 °C, 50,000 mg/L salinity), respectively. The apparent viscosity of MT solutions (0.1%, w/v) was much higher than that of welan solutions under the same conditions. The MT gum also had the property of instant dissolution and completely swelled in 40 min. Meanwhile, the MT gum was resistant to 3–10 mg/L Fe²⁺ in the reservoir conditions, ensuring its application in offshore oil fields. These findings suggested that the biopolymer MT gum produced by the strain MT01 had significant potential in enhanced oil recovery (EOR) of high-temperature and high-salinity oil reservoirs.