Here is the TMS related information from Goodrich's earnings announcement today:
Goodrich Petroleum Announces Financial Results And Operational Update
HOUSTON, Nov. 4, 2013 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE: GDP) (the "Company") today announced financial and operating results for the quarter ended September 30, 2013 and provided an operational update.
Tuscaloosa Marine Shale ("TMS"):
Preliminary 2014 capital expenditure budget allocates $300 million for the TMS to drill up to 31 gross (24 net) wells with five operated rigs running in the play by the end of 2014 pending continued success.
The Company drilled its Huff 18-7H No. 1 (97% WI) well with usable lateral of approximately 5,400 feet. The Company drilled the curve and lateral in a record time of 12 days but has experienced completion delays due to temporarily sticking the drill pipe shortly after reaching total depth. The Company successfully freed the drill pipe and is currently cleaning out the wellbore in preparation of running production casing. The cleanout of the wellbore is expected to be completed within the next few days.
Cumulative production from the Company's Crosby well has reached 138,000 barrels of oil equivalent ("BOE", 90% oil) in 8.5 months, and five of the last six completed wells are currently producing at or above the Company's 600,000 BOE type curve (See current Management Presentation posted on website).
The Company currently has two rigs running in the play and has commenced drilling operations on its Weyerhaeuser 51H-1 (67% WI) well in St. Helena Parish, Louisiana, the initial well of three consecutive wells planned on its recently acquired acreage block, with plans to move a rig to its CMR 8-5 (100% WI) well in Amite County, Mississippi after the Huff 18-7 well.
Capital expenditures for the quarter were $91.4 million, of which $66.3 million was spent on drilling and completion costs, $22.7 million on the Company's producing property and leasehold acquisition in the TMS and $2.4 million on other leasehold acquisitions and extensions, facilities and other expenditures. Capital expenditures for the first nine months of the year were $204.2 million, of which $174.6 million was spent on drilling and completion costs, $22.7 million primarily for the TMS acquisition, $5.9 million on acreage acquisitions and $1.0 million on facilities and other expenditures.
For the quarter, the Company spent approximately 32% of the capital in the Eagle Ford Shale trend, 57% in the TMS and 11% on the completion of previously drilled Haynesville Shale wells. The Company conducted drilling operations on 8 gross (6 net) wells in the quarter, including 6 gross (4 net) Eagle Ford Shale trend wells and 2 gross (1.96 net) wells in the TMS. We added 9 gross (4.87 net) wells to production in the quarter, of which 5 gross (3 net) were in the Eagle Ford Shale trend, 1 gross (0.90 net) in the TMS and 1 gross (0.50 net) in the Haynesville Shale trend. As of quarter-end, the Company had 8 gross (5.32 net) wells drilled and waiting on completion comprised of 2 gross (1 net) in the Haynesville Shale trend, 5 gross (3.33 net) in the Eagle Ford Shale trend and 1 gross (0.99 net) in the TMS.
For the year, the Company expects to drill and complete 21 gross (14 net) wells in the Eagle Ford Shale trend (down 1 gross (0.7 net) wells due to the reallocation of capital from the Eagle Ford Shale to the TMS), 9 gross (5 net) wells in the TMS and 13 gross (5.7 net) wells in the Haynesville Shale trend.