Wednesday, February 6, 2013

Goodrich Announces Crosby Results

Congratulations to Goodrich Petroleum. This represents one of the highest initial potentials to date in the play.  On a per stage basis, it is the best initial potential to date.

HOUSTON, Feb. 6, 2013 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE: GDP) today announced the completion of its Crosby 12H-1 (50% WI) well in Wilkinson County, Mississippi.   The well is continuing to improve with a current production rate of 1,250 barrels of oil equivalent ("BOE") per day and a 24 hour average rate of 1,130 BOE per day comprised of 1,050 barrels of oil and 469 Mcf of gas, on a 15/64" choke with 2,700 psi. The well, which has approximately 6,700 feet of usable lateral and was fracked with 25 stages, is in the early stage of flowback, with approximately 1% of the frac fluid recovered to date.
The Company is also participating in the Anderson 17H-2 well, which is currently drilling, with a 7% non-operated working interest. The Company plans to spud its next operated TMS well, the Smith 5-29H-1, during the second quarter. The Ash 31H-1 and Ash 31H-2 wells, in which the Company has a 12% non-operated working interest, are currently expected to be completed in February.
The Company currently has approximately 135,000 net acres in the play, and now expects to spend the higher end of its previously announced 2013 capital expenditure budget in the TMS of approximately $50 million.
Encana and Contango Oil & Gas Company each own a 25% working interest in theCrosby 12H-1 well.

http://phx.corporate-ir.net/phoenix.zhtml?c=83169&p=irol-newsArticle&ID=1782017&highlight=


6 comments:

  1. Wilkinson county is a big place. Exactly where is this well?

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  2. Mark:

    Go to the Mississippi Oil and Gas Boards site. Access their user-friendly online data base to pull up Goodrich Petroleum's wells. Select the Crosby well and it will produce the data and a map which will show you exactly where the well is located.

    Here is the link: http://gis.ogb.state.ms.us/MSOGBOnline/

    If the link is not live, copy and paste it into your browser.

    Good luck with "your drilling and mining" of the data. It is quite interesting.

    ~~John Parker

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  3. Way back in the 60's, our high school journalism course taught us our writings should always answer the questions of who, what, when, where, why and how. This press release didn't.
    Thanks for the info, let me see if I can locate that answer.

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  4. FM,
    Thanks for pointing out the obvious. You must have received a "A" in your journalism class. :)

    ReplyDelete
  5. it must not be so obvious, as PRNewswire missed it. Entirely.

    ReplyDelete
  6. Kirk, you get at least a B+.
    Charles Bell

    ReplyDelete