HOUSTON, May 29, 2018 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE American: GDP) today announced results on two operated Haynesville Shale wells in North Louisiana and an update.
The Cason-Dickson 14-23 1H (92% WI) well in Red River Parish, Louisiana, which has a producing lateral length of approximately 8,000 feet and was completed with 4,000 pounds of proppant per foot from 64 stages, has achieved a 24-hour peak rate to date of approximately 31,000 Mcf per day.
The Cason-Dickson 14-23 2H (86% WI) well in Red River Parish, Louisiana, which has a producing lateral length of approximately 3,000 feet and was completed with 5,000 pounds of proppant per foot over 33 stages, has achieved a 24-hour peak rate to date of approximately 23,000 Mcf per day.
The Company has drilled and cased its' Wurtsbaugh 35 No.1 (72% WI) well in the Bethany-Longstreet field in DeSoto Parish, Louisiana, with fracking operations expected to commence in early June.
Total Company production is currently approximately 80,000 Mcfe per day.
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, 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 and other 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. Initial production rates are subject to decline over time and should not be regarded as reflective of sustained production levels.
Goodrich Petroleum is an independent oil and gas exploration and production company with the majority of its properties in Louisiana, Texas and Mississippi. The Company currently trades under the symbol GDP on the NYSE American Exchange.