Goodrich Petroleum (GDP) Announces Updated, Accelerated Capital Expenditure Budgets
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Goodrich Petroleum Announces Updated And Accelerated Capital Expenditure Budgets For 2018 And 2019
March 12, 2018 6:00 AM EDTHOUSTON, March 12, 2018 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE American: GDP) today announced an updated and accelerated preliminary capital expenditure budget for 2018 and a preliminary capital expenditure budget for 2019 following the Company's recent $23 million asset sale.
For 2018, the Company's board of directors approved a $20 million increase to $85 - 95 million to accelerate development in its core Haynesville Shale acreage position in the Bethany-Longstreet and Thorn Lake areas of Caddo, DeSoto and Red River Parishes, Louisiana. The Company anticipates drilling 21 gross (8.7 net) horizontal wells for the year, with a blended net average lateral length... More
