Goodrich Petroleum Corp. plans to spend between $65 million and $75 million on capital expenditures (capex) in 2018, all devoted to its holdings in the gassy core area of the Haynesville Shale in North Louisiana.
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Goodrich, Comstock Rolling Up Their Sleeves in Haynesville
For Goodrich Petroleum Corp. and Comstock Resources Inc., it’s all about a revitalized Haynesville Shale.
Goodrich to Acquire, Swap Acres in Haynesville; Sees First Production From Long-Lateral Well
Goodrich Petroleum Corp. said it has agreed with an undisclosed party to acquire up to 2,200 net acres adjacent to its existing position in the Haynesville Shale in North Louisiana. It also announced completion results for a pair of operated, long-lateral wells targeting the play.
Goodrich, Linn Get New Stock Listings; Bonanza Creek to Exit Chapter 11 Soon
Six months after emerging from bankruptcy protection, common stock in Goodrich Petroleum Corp. began trading on the New York Stock Exchange (NYSE) on Tuesday. Meanwhile, common stock in Linn Energy Inc., which emerged from Chapter 11 in late February, began trading over-the-counter on the OTCQB market on Monday.
Briefs — Goodrich Petroleum
Goodrich Petroleum Corp. has participated in two Haynesville Shale wells in Caddo Parish, LA, that have reached a combined 24-hour peak rate to date of 72,000 Mcf/d. The company owns a 17.4% working interest in each of the wells, which came online in the middle of December. As previously announced, Goodrich has established a preliminary capital expenditure budget for 2017 of $40 million, which will be concentrated in the core of the Haynesville Shale in North Louisiana. The budget contemplates 12-16 gross (three to four net) wells for the year, with plans to commence drilling operations on the Wurtsbaugh 26-14-16 1 Alt well by early February. Goodrich said it has entered into a natural gas hedge through a costless collar of $3.00-3.60 for 12,000 Mcf/d for calendar year 2017.
Goodrich Emerges From Chapter 11 With Same Assets, Less Debt, New Board
Houston-based Goodrich Petroleum Corp. has emerged from bankruptcy protection with the same assets it had when it filed for Chapter 11 in April, but with reduced debt, a new board of directors and $40 million in new capital.
Goodrich Files Chapter 11, While Linn Holds Off Creditors For Another Month
Houston-based Goodrich Petroleum Corp. on Friday joined the ranks of U.S. energy firms that are unable to keep up with debt payments, filing to voluntarily restructure under Chapter 11. Meanwhile, Linn Energy LLC made some of its required interest payments, but it faces a steep financial hurdle over the coming month.
Goodrich Files Chapter 11, While Linn Holds Off Creditors For Another Month
Houston-based Goodrich Petroleum Corp. on Friday joined the ranks of U.S. energy firms that are unable to keep up with debt payments, filing to voluntarily restructure under Chapter 11. Meanwhile, Linn Energy LLC made some of its required interest payments, but it faces a steep financial hurdle over the coming month.
Goodrich Dropped from NYSE; Atlas MLPs Below Listing Standard
Trading in Houston’s Goodrich Petroleum Corp. common stock was suspended Wednesday by the New York Stock Exchange (NYSE) and a delisting process has begun for the onshore producer.
Goodrich Sells Some Eagle Ford, Retains Some For Better Times
In a liquidity-boosting move, Goodrich Petroleum Corp. is selling Eagle Ford Shale proved reserves and leasehold in LaSalle and Frio counties in Texas for $118 million while retaining some acreage for potential development or sale later. The move was not cheered by analysts or investors.