Goodrich hits delay at Tuscaloosa Marine Shale operations

Source:Goodrich Petroleum Corp.

Goodrich Petroleum Corporation (GDP) announces Tuscaloosa Marine Shale operational update:

GDP announced that its Huff 18-7H-1 (97% WI) well in Amite County, Mississippi was successfully fracture stimulated with 17 stages and had commenced 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 is currently running intermediate casing in preparation of drilling the lateral on its CMR 8-5H-1 (100% WI) well in Amite County, Mississippi.

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

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