Goodrich Petroleum Corp. has brought two operated wells in northwest Louisiana targeting the Haynesville Shale into production, and expects to begin fracturing operations at a third well in the Bethany-Longstreet Field in early June.
The Houston-based independent reported Tuesday the Cason-Dickson 14-23 1H well in which it has a 92% working interest (WI), achieved a 24-hour peak production rate of 31,000 Mcf/d. The well was drilled with an 8,000-foot lateral and completed in 64 stages using 4,000 pounds/foot of proppant.
A second well, Cason-Dickson 14-23 2H (86% WI), achieved a 24-hour peak production rate of 23,000 Mcf/d with a 3,000-foot lateral. It was completed in 33 stages using 5,000 pounds/foot of proppant. Both Cason-Dickson wells target the Haynesville and are in Red River Parish.
The third well, Wurtsbaugh 35 No.1 (72% WI), which targets the Bethany-Longstreet in DeSoto Parish, is to be completed in June.
Goodrich said total production is currently about 80,000 Mcfe/d.
Two weeks ago, Goodrich announced three separate agreements to sell a portion of its assets in the Tuscaloosa Marine Shale (TMS) in Louisiana for $3.3 million. It also obtained agreements to swap acreage and reduce gathering fees in the core of the Haynesville. The company expected to close on a deal to sell some of its interest in the western area of its position in the TMS in Louisiana's East and West Feliciana parishes by mid-June.
Goodrich agreed to swap part of its acreage in the Bethany-Longstreet in Caddo Parish, LA, to add 10 laterals measuring 10,000 feet each to its operated inventory. The company also agreed to amend a natural gas gathering agreement with an undisclosed midstream provider to lower fees from 53-75 cents/Mcf to 26-60 cents/Mcf. Gathering fees within the rest of its core Haynesville acreage would remain priced at 22-37 cents/Mcf.
Last December, Goodrich said it planned to devote its entire capital expenditures budget of $65-75 million to the gassy core area of the Haynesville. The company was running one rig in mid-May and plans to add a second rig in late June. Goodrich plans to drill 17 gross (eight net) wells during 2018.