Goodrich Petroleum Corp. Tuesday turned in results for its latest Tuscaloosa Marine Shale (TMS) well, and they show improvement from some other wells recently drilled in the play.
The company announced the completion of its Denkmann 33-28H-2 [75% working interest (WI)] well in Amite County, MS. It was drilled with a 6,000-foot lateral and fracked with 22 stages. The well achieved a peak 24-hour average production rate to date of about 1,250 boe/d (1,200 bbl of oil and 300 Mcf of gas) on a 16/64-inch choke.
Wells Fargo Securities analyst Gordon Douthat said in a note that the results translate to 210 boe/d per 1,000 feet of lateral or 57 boe/d per frack stage, which is "on par" with the "best results" in the play to date.
Last month during an earnings conference call, CEO Gil Goodrich said the industry's understanding of the TMS was advancing rapidly (see Shale Daily, Aug. 8). Earlier in the year the company released some underwhelming initial production rates for a couple of its wells (see Shale Daily, July 7; June 19).
On Tuesday Goodrich also said it has begun flowback on its Bates 25-24H-1 (98% WI) well in Amite County, a 5,000-foot lateral with 19 frack stages, and is currently fracking its CMR/Foster Creek 31-22H-1 (90% WI) well in Wilkinson County, MS, which has a 6,700-foot lateral with 24 planned frack stages. Goodrich has also drilled and is in completion phase on its CMR/Foster Creek 24-13H-1 (97% WI) well in Wilkinson County, which has a 6,600-foot lateral, and its Spears 31-6H-1 (77% WI) well in Amite County, which has a 7,600-foot lateral.
Goodrich is running three rigs in the TMS and is conducting drilling operations on its Verberne 5H-1 (66% WI) and Williams 46H-1 (61% WI) wells offsetting its Blades 33H-1 (67% WI) well in Tangipahoa Parish, LA, and its CMR/Foster Creek 8H-1 (79% WI) well in Wilkinson County, which is planned for a two-well pad offsetting the company's Crosby 12H-1 (50% WI) well.
Goodrich has more than 300,000 net acres in the TMS.