Saturday, February 25, 2012

Goodrich Tiptoes Into The TMS

Goodrich Petroleum Announces Year-End and Fourth Quarter Financial Results and Revised 2012 Guidance
  • $20 – 45 million in the Tuscaloosa Marine Shale to drill 4 – 8 gross (2 – 4 net) wells
  • The Company has participated for a 4.5% non-operated working interest in the Anderson 17H-1 well in Amite County, Mississippi.  The well, which was drilled with an approximate 7,300 foot lateral, is in completion phase with initial production expected early in the second quarter.  For the remainder of 2012, the Company currently expects to participate in one to five additional non-operated wells for a small working interest and two to five operated wells with an approximate blended average working interest of 60%.  The first operated well is expected to commence in early May.  With continued success, the Company will accelerate development in the play at the appropriate time. 
  • Source: http://phx.corporate-ir.net/phoenix.zhtml?c=83169&p=irol-newsArticle&ID=1664136&highlight=
Management presentation:
http://www.goodrichpetroleum.com/presentations/MgmtCurrent.pdf

     

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