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Goodrich Betting It All on TMS in 2014; Eagle Ford and Haynesville Update
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Goodrich has detailed its 2014 capital plans, which rely heavily on the development of the Tuscaloosa Marine Shale (TMS) play.
The Company has set a $375 million capital expenditure budget for 2014. In the TMS, the Company has preliminary plans, subject to continued success, to spend$300 million to drill 32 gross (23 net) wells, which is predicated on an increasing rig count throughout 2014, resulting in five operated rigs running by the second half of 2014.
In the Eagle Ford Shale trend, the Company plans to spend $45 million to drill 9 gross (6 net) wells, and in the Haynesville Shale, plans to drill one gross and net well on its ART / Shelby Trough acreage by mid-2014. The Company plans to spend approximately $15 million on leasehold, acquisitions and infrastructure in 2014.
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