Goodrich updates Tuscaloosa Marine Shale operations

Goodrich Petroleum Corp.

Goodrich Petroleum Corp. (NYSE: GDP) has provided an update on its operations in the Tuscaloosa Marine shale play. The company reports that its Huff 18-7H-1 (97% WI) well in Amite County, Mississippi, was successfully fracture stimulated with 17 stages, and it had begun flowback at expected fluid rates when the well became plugged up with frac-related debris at a frac plug approximately 500 feet into the lateral, which will need to be cleaned out prior to resuming flowback. Therefore, completion results are expected to be released after the first of the year as soon as flowback has resumed and peak rate achieved.

The company is near total depth on its Weyerhaeuser 51-1H-1 (67% WI) well in St. Helena Parish, Louisiana, which is expected to be completed in January, and it is currently running intermediate casing in preparation of drilling the lateral on its CMR 8-5H-1 (100% WI) well in Amite County, Mississippi.

Goodrich Petroleum has in excess of 300,000 net acres in the play with two rigs currently running. A third rig is set to begun drilling operations in the first quarter of 2014, and the company anticipates up to five rigs running by year-end 2014, pending continued drilling results.

 

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