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Goodrich Provides Update on Tuscaloosa Marine Shale

Source: www.gulfoilandgas.com 9/2/2014, Location: North America

Goodrich Petroleum Corporation completes its Denkmann 33-28H-2 (75% WI) well in Amite County, Mississippi. The well, which was drilled with an approximate 6,000 foot lateral and was fracked with 22 stages, has achieved a peak 24-hour average production rate to date of approximately 1,250 barrels of oil equivalent ("BOE") per day, comprised of 1,200 barrels of oil and 300 Mcf of gas on a 16/64 inch choke.

The Company has also commenced flowback on its Bates 25-24H-1 (98% WI) well in Amite County, Mississippi, an approximate 5,000 foot lateral with 19 frac stages, and is currently fracking its CMR/Foster Creek 31-22H-1 (90% WI) well in Wilkinson County, Mississippi, which has an approximate 6,700 foot lateral with 24 planned frac stages. The Company has also drilled and is in completion phase on its CMR/Foster Creek 24-13H-1 (97% WI) well in Wilkinson County, Mississippi, which has an approximate 6,600 foot lateral, and its Spears 31-6H-1 (77% WI) well in Amite County, Mississippi, which has an approximate 7,600 foot lateral.

The Company currently has three rigs running in the play and is conducting drilling operations on its Verberne 5H-1 (66% WI) and Williams 46H-1 (61% WI) wells offsetting its Blades 33H-1 (67% WI) well in Tangipahoa Parish, Louisiana, and its CMR/Foster Creek 8H-1 (79% WI) well in Wilkinson County, Mississippi, which is planned for a two well pad offsetting the Company's Crosby 12H-1 (50% WI) well. The Company has in excess of 300,000 net acres in the play.

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