Goodrich Petroleum announces Tuscaloosa Marine Shale ("TMS") Well Result
Goodrich Petroleum Corporation (NYSE: GDP) announced the completion of its C.H. Lewis 30-19H-1 (81.4% WI) well in Amite County, Mississippi. The well has achieved a peak 24-hour average production rate to date of 1,450 barrels of oil equivalent (“BOE”) per day, comprised of 1,387 barrels of oil and 377 Mcf of gas on a 16/64 inch choke from an approximate 6,600 foot lateral. The well landed in the Company’s lower target and was completed with 26 frac stages.
The Company has fracked, drilled out the frac plugs and commenced flowback on its Nunnery 12-1H-1 (93.3% WI) well in Amite County Mississippi, with results expected in June. The Nunnery well is an approximate 6,000 foot lateral with 22 frac stages. In addition, the Company will commence fracking operations on its Beech Grove 94H-1 (66.7% WI) well in East Feliciana Parish, Louisiana this week, with results expected by the end of June. The Beech Grove well was drilled with an approximate 6,000 foot lateral and has 21 planned frac stages.
The Company is currently drilling the SLC, Inc. 81H-1 (66.7% WI) well in West Feliciana Parish, Louisiana, the Bates 25-24H-1 (97.6% WI) and the Denkmann 33-28H-2 (75% WI) wells in Amite County, Mississippi and the CMR-Foster Creek 24-13H-1 (84.7% WI) well in Wilkinson County, Mississippi. The Company is temporarily running four rigs as it is in the process of swapping out the oldest rig for a newer, more technologically advanced rig, with plans to go to as many as five rigs by the end of the year pending continued success.
The Company has in excess of 300,000 net acres in the play.
Source: Goodrich Petroleum