With the 2021 natural gas futures strip price improved to more than $3.00/Mcf, Haynesville Shale-focused Goodrich Petroleum Corp. has increased its outlook and cash flow potential for the coming year.

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The independent’s production is 98% weighted to natural gas, and the latest price signals could “dramatically” help increase earnings potential, CEO Gil Goodrich said during the recent quarterly conference call. 

All of the fracture operations and completions were pushed until late in 2020, which resulted in a sequential decline in net production volumes. 

“However, the late quarter completions resulted in a significant bump in net production as we entered the fourth quarter with an entry rate in excess of 150 MMcfe/d, and we are now receiving a material better natural...