Eagle Ford Shale

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.

Goodrich Petroleum Reports Update On Seven Eagle Ford Shale Wells

Goodrich Petroleum (GDP) updated its operational activity in south Texas, where the company has acreage prospective for the Eagle Ford Shale.

Goodrich Petroleum increased its total 2011 capital budget by $10 million, from $225 million to $235 million.  The company increased the allocation to the Eagle Ford Shale formation by $45 million, from $100 million to $145 million.

During the fourth quarter of 2010, the company drilled 4 gross or 3 net wells into the Eagle Ford Shale.  Goodrich Petroleum reported the status of seven Eagle Ford Shale wells on its acreage in LaSalle and Frio Counties, Texas:

Burns Ranch 4H –600 barrels oil equivalent (BOE) per day (24 hour initial production rate)

Pan Am C-1H – 250 BOE per day (24 hour initial production rate)

Burns Ranch 9H, Burns Ranch 7H and Pedro Morales 7H – Undergoing completion operations

Burns Ranch 5H and Burns Ranch 16H – Being drilled

Goodrich Petroleum is operating two rigs on its Eagle Ford Shale acreage and expects to drill from 22 to 26 wells on its 40,000 net acres.