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[STK] NYSE:GDP
[IN] UTI OIL GAS
[SU]
TO BUSINESS EDITORS:
Goodrich Petroleum Announces Tuscaloosa Marine Shale ("TMS") Well
Result And Operational Update
HOUSTON, April 14, 2014 /PRNewswire/ -- Goodrich Petroleum Corporation
(NYSE: GDP) today announced the completion of its Blades 33H-1 (66.7%
WI) well in Tangipahoa Parish, Louisiana. The well has achieved a
peak 24-hour average production rate to date of 1,270 barrels of oil
equivalent ("BOE") per day, comprised of 1,250 barrels of oil and 115
Mcf of gas on a 14/64 inch choke from an approximate 5,000 foot
lateral. The well landed in the Company's lower target, was drilled
and completed under budget and was fracked with 20 stages using
composite plugs that were drilled out prior to flow back. The
Company's completion methodology was slightly modified from previously
completed wells. The well was drilled on a portion of the 185,000 net
acres acquired in August 2013 and is approximately 48 miles southeast
from the Company operated Crosby 12H-1 well in Wilkinson County,
Mississippi and five miles east of a horizontal well previously
drilled on the acquired acreage.
The Company has drilled its C.H. Lewis 30-19H-1 (81.4% WI) well in
Amite County, Mississippi in 36 days, with approximately 6,600 feet of
usable lateral. The well landed in the Company's lower target and has
26 planned frac stages using the Company's modified completion
design. Fracking operations are expected to commence by the end of
April.
The Company is currently drilling the Nunnery 12-1H-1 (91.2% WI) well
in Amite County Mississippi, the Beech Grove 94H-1 (66.7% WI) well in
East Feliciana Parish, Louisiana and the SLC, Inc. 81H-1 (66.7% WI)
well in West Feliciana Parish, Louisiana. All wells are planned to be
drilled in the lower target with a minimum of 6,000 foot laterals and
use the modified completion design.
The Company has in excess of 300,000 net acres and three rigs running
currently in the play, with the plan to go to five rigs by the end of
the year pending continued success.
A copy of the latest corporate presentation is available on the
Company's website at www.goodrichpetroleum.com.
Goodrich Petroleum Corporation is an independent oil and gas
exploration and production company listed on the New York Stock
Exchange.
SOURCE Goodrich Petroleum Corporation
-0- 04/14/2014
/CONTACT: Robert C. Turnham, President, Jan L. Schott, Chief Financial Officer or Daniel E. Jenkins, Director of Investor Relations, (713) 780-9254
/Web Site: http://www.goodrichpetroleum.com/
(NYSE:GDP) /
CO: Goodrich Petroleum Corporation
ST: Texas
IN: UTI OIL GAS
PRN
-- DA04172 --
0000 04/14/2014 10:00:00 EDT http://www.prnewswire.com
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