Goodrich Petroleum (GDP) announced a $230 million capital budget for 2010, targeted mostly toward developing its Haynesville Shale acreage in Louisiana and Texas. The company said that its capital plan would allow it to drill 46 gross (24 net) horizontal wells in 2010.
Production growth in 2010 is estimated at 15-25% based on this budget.
Goodrich Petroleum also said that it purchased approximately 12,000 net acres in Nacogdoches and Angelina Counties in Texas, bringing its total net acreage across the entire Haynesville Shale play to 85,000 net acres.
Goodrich Petroleum announced the completion of two Haynesville Shale wells in the Bethany-Longstreet Field located in Caddo and DeSoto Parishes, Louisiana:
Garland 25 H-1 – completed with an initial 24-hour peak production rate of 20.2 million cubic feet per day.
Sentell 35 H-1 - completed with an initial 24-hour peak production rate of 13.9 million cubic feet per day.