Exploration & Production | Top Story | Reserves | Capital Markets | Capital Expenditure
Goodrich Chops 2015 Budget Down to $90-110 Million
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Goodrich Petroleum Corporation announced year-end 2014 reserves and its revised preliminary 2015 capital expenditure budget.
2015 Capital BudgetBased on current commodity prices, the Company revised its preliminary capital expenditure budget for 2015 to $90 – 110 million, comprised of $80 – 100 million of drilling and completion capital expenditures and approximately $10 million of leasehold and infrastructure expenditures. The Company will monitor capital expenditures on a quarterly basis and maintain flexibility to accelerate capital expenditures with improvement in oil prices and the monetization of certain assets. Oil directed capital is estimated to be approximately 91 – 93% of the total drilling and completion budget, with the entire oil-directed allocation to the Tuscaloosa…
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