Goodrich Petroleum Announces East Texas Well Results

Jan 05, 2010, 07:00 ET from Goodrich Petroleum Corporation

HOUSTON, Jan. 5 /PRNewswire-FirstCall/ -- Goodrich Petroleum Corporation (NYSE: GDP) today announced results on two wells in its Beckville field in Panola and Rusk Counties, Texas.

The Company has completed a horizontal Haynesville Shale well, its Billy Harris No. 1H, which produced into sales at a 24 hour peak production rate of 12,200 Mcf per day on a 24/64 inch choke with 6,000 psi. The well was drilled and completed with an approximate 5,000 foot lateral and twenty frac stages. The Company is operator and owns a 100% working interest in the well.

The Company has also completed its fourth horizontal Cotton Valley Taylor sand well. The GT Waldrop 5H is in early stages of flowback, and to date has a 24 hour peak production rate of 4,100 Mcf per day. The Company is also operator and owns a 100% working interest in the well.


Certain statements in this news release regarding future expectations and plans for future activities may be regarded as "forward looking statements" within the meaning of the Securities Litigation Reform Act. They are subject to various risks, such as financial market conditions, operating hazards, drilling risks, and the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas, as well as other risks discussed in detail in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Initial production rates are subject to decline over time and should not be regarded as reflective of sustained production levels.

Goodrich Petroleum Corporation is an independent oil and gas exploration and production company listed on the New York Stock Exchange. The majority of its properties are in Louisiana and Texas.

SOURCE Goodrich Petroleum Corporation