Goodrich Petroleum (GDP) reported the completion and initial production rates on four recent wells into the Eagle Ford Shale formation on its acreage in Texas.
The Burns Ranch 7H well had a 24 hour initial production rate of 940 barrels oil equivalent (BOE) per day. This production was composed of 822 barrels of oil and 700,000 cubic feet of natural gas per day.
The Burns Ranch 9H well had a 24 hour initial production rate of 860 BOE per day. This production was composed of 820 barrels of oil and 245,000 cubic feet of natural gas per day.
The Burns Ranch 5H well had a 24 hour initial production rate of 600 BOE per day. This production was composed of 570 barrels of oil and 200,000 cubic feet of natural gas per day.
The Pedro Morales 7H well produced at a rate of 460 BOE per day during a 24 hour initial period. This production was composed of 400 barrels of oil and 325,000 cubic feet of natural gas per day.
Goodrich Petroleum also has several other Eagle Ford Shale wells undergoing drilling or completion operations. The Burns Ranch 15H and Burns Ranch 16H wells are currently undergoing completion operations, while the Burns Ranch 19H, Burns Ranch 20H, Burns Ranch 3H and Burns Ranch 17H wells are currently being drilled by the company.
Goodrich Petroleum has 40,000 net acres prospective for the Eagle Ford Shale and plans to drill between 22 and 26 wells in 2011.
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