Goodrich Petroleum Corp. is keeping its capital spending in 2010 flat compared with 2009, but natural gas-heavy volumes still are forecast to jump 15-25%, the producer said Thursday.

A preliminary capital expenditure budget for 2010 is set at $230 million, which is the same as this year’s budget. About 24 net horizontal wells are to be drilled, with two-thirds of next year’s spending directed at the Haynesville play in Caddo and DeSoto parishes in Louisiana, where Goodrich is partnering with Chesapeake Energy Corp. (see Daily GPI, June 17, 2008). The preliminary budget includes $190 million for drilling and completion and $40 million allocated to leasehold and infrastructure.

Goodrich also agreed to buy 12,000 more net acres in Nacogdoches and Angelina counties, TX, which are in the East Texas portion of the Haynesville play. Including the additional acreage, the company has about 85,000 net acres prospective for the Haynesville play in Texas and Louisiana. The first well in the Angelina River Trend is expected to be drilled in the first six months of next year.

Many of the Haynesville wells continue to perform at double-digit initial production (IP) rates, Goodrich noted. An operated well in the Bethany-Longstreet Field in Louisiana ramped up at a 24-hour peak IP rate of 20.2 MMcf/d with 7,700 pounds/square inch (psi) on a 24/64-inch choke. The company also partnered on Chesapeake’s Sentell 35 H-1 well, which had a 24-hour peak IP rate of 13.9 MMcf/d with 6,800 psi on a 22/64-inch choke.

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