A possibly useful start might be "tidy" which has the following
description:
TIDY version 7.2, 1999-10-15
Function:
TIDY 7.2 is a highly configurable FORTRAN program to indent and
renumber statements, selectively change case of keywords or
non-keywords, and do various other clean-up tasks on FORTRAN-77
source programs. TIDY can convert some FORTRAN-66 features such as
Hollerith constants to FORTRAN-77. TIDY can either retain DO/END DO
loops or convert them to standard FORTRAN-77 loops. It can change
comment specifiers from C,c,or * to ! as in F90 style. Supports F90
CYCLE, EXIT, DO WHILE loops, IMPLICIT NONE, INCLUDE statements,
long variable names, the relational operators <,>,<=,>=,
==,/= and the use of underscores in variable names.
It is not clear if it will deal with long lines but at least it deals
with Hollerith constants.
It an be obtained from
http://www.pdas.com/tidy.html
but the "official" link mention therein no longer works.
I think You would need another program to promote code to free format
and later coding proclivities.