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News Breaks
June 18, 2014
06:09 EDTGDPGoodrich Petroleum announces TMS well result, operational update
Goodrich Petroleum announced the completion of its Nunnery 12-1H-1 well in Amite County, Mississippi. The well has achieved a peak 24-hour average production rate to date of approximately 815 BOE per day, comprised of 785 barrels of oil and 185 Mcf of gas on a 17/64 inch choke from an approximate 6,000 foot lateral. The well, which is located near the Pike County line along the northeastern boundary of the company's acreage block, landed in the company's lower target and was completed with 22 frac stages. The company has also completed frac operations, drilled out the frac plugs and will commence flow back on its Beech Grove 94H-1 well in East Feliciana Parish, Louisiana this week, with results expected by the end of June. The Beech Grove well was drilled with an approximate 6,000 foot lateral and completed with 21 frac stages. The company has completed drilling operations on the SLC, Inc. 81H-1 well in West Feliciana Parish, Louisiana and expects to commence frac operations in early July. The company has also reached total depth on its Denkmann 33-28H-2 well in Amite County, Mississippi with an approximate 6,200 foot lateral drilled in 25 days, a record for the company. The company continues with drilling operations on its CMR-Foster Creek 24-13H-1 well in Wilkinson County, Mississippi and the Bates 25-24H-1 well in Amite County, Mississippi. The company is currently running three rigs in the TMS with plans to go to as many as five rigs by the end of the year pending continued success. The company has in excess of 300,000 net acres in the play.
News For GDP From The Last 14 Days
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January 30, 2015
07:12 EDTGDPGoodrich Petroleum sees FY15 oil production volumes of 4800-5200 barrels per day
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07:11 EDTGDPGoodrich Petroleum sees FY15 CapEx of $90M-$100M
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07:10 EDTGDPGoodrich Petroleum reports proved reserves of 273.7 Bcfe as of December 31, 2014
Goodrich Petroleum reported proved reserves of 273.7 Bcfe as of December 31, 2014, with future net cash flow of $1.3B and present value of the future net cash flow before income taxes discounted at 10% of $650.6M. Proved oil reserves grew by approximately 13M barrels of oil or 92% from December 31, 2013. Year-end reserves were comprised of 59.3% oil, 38.3% natural gas and 2.4% natural gas liquids, which does not include approximately 103.1 Bcfe of natural gas reserves due to the SEC five year rule and 140.3 Bcfe of reserves that were sold in December of 2014. SEC pricing for the year-end report was $94.99 per barrel of oil, $4.35 per MMBtu for natural gas and $44.84 per barrel of natural gas liquids. Proved reserves from the Tuscaloosa Marine Shale grew by 14.9 million barrels of oil equivalent and $311 million of PV-10 compared to December 31, 2013, and now comprises 42.1% of the Company's reserves and 60.4% of the Company's PV-10.
January 23, 2015
16:01 EDTGDPOptions Update; January 23, 2015
iPath S&P 500 VIX Short-Term Futures up 80c to 32.10. Option volume leaders: AAPL TSLA TWTR AMZN FB FXCM X GDP PBR according to Track Data.
January 20, 2015
07:32 EDTGDPGoodrich Petroleum downgraded to Hold from Buy at KLR Group
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