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Goodrich Petroleum Announces Haynesville Shale Well Results And Operational Update

HOUSTON, Aug. 20, 2018 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE American: GDP) today announced completion results on its Wurtsbaugh 35 No. 1 (71% WI) well which came online in July and achieved a 24-hour peak rate of approximately 22,500 Mcf per day and the Demmon 34 No. 1 (89% WI) well, which came online in August, and also achieved a 24-hour peak rate of approximately 22,500 Mcf per day. Both wells are 4,600 foot laterals in the Bethany-Longstreet field in DeSoto Parish, Louisiana.

Upon completion of the Demmon well, Company-wide production hit 90,000 Mcfe per day and is projected to meaningfully increase again with the addition of the Harris 14&23H-1 (98.5% WI) well which is scheduled to commence fracking operations in the next 10 days. 


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, changes in commodities prices and costs of drilling and completion, 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 for the year ended December 31, 2017 and other subsequent 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.

Goodrich Petroleum is an independent oil and natural gas exploration and production company listed on the NYSE American under the symbol "GDP".


SOURCE Goodrich Petroleum Corporation

For further information: Robert C. Turnham, (713) 780-9494