Eagle Ford Shale

Goodrich Petroleum Reports Production on Three Eagle Ford Shale Wells

Goodrich Petroleum (GDP) reported three excellent wells recently completed into the Eagle Ford Shale in Texas, with all the wells producing above 1,000 barrels of oil equivalent (BOE) per day.

Burns Ranch 15H - 1,250 BOE per day, composed of 1,155 barrels of oil and 570,000 cubic feet of natural gas per day.

Burns Ranch 17H - 1,155 BOE per day, composed of 1,108 barrels of oil and 280,000 cubic feet of natural gas per day.

Burns Ranch 18H - 1,030 BOE per day, composed of 955 barrels of oil and 450,000 cubic feet of natural gas per day.

Goodrich Petroleum said that the Burns Ranch 19H, Burns Ranch 20H and Burns Ranch 3H wells are currently flowing back.  The company said that the Burns Ranch 2H, Burns Ranch 30H and Burns Ranch 35H wells have been drilled and are waiting on completion.

Goodrich Petroleum plans to drill five gross or 3.5 net Eagle Ford Shale wells in the second half of 2011.

Goodrich Petroleum Reports Four Eagle Ford Shale Well Completions

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.