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Goodrich IDs Latest TMS Plans, Wells; Retires Rig

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Goodrich IDs Latest TMS Plans, Wells; Retires Rig

Goodrich Petroleum Corporation has commenced completion operations on two of its six drilled but uncompleted wells in the Tuscaloosa Marine Shale. 

The B-Nez 43H-1 (70%WI) and B-Nez 43H-2 (74% WI) wells in Tangipahoa Parish are near completion of fracture stimulation, with flow back and initial production expected within 1 - 2 weeks.  The Company currently anticipates completing the remaining four drilled but uncompleted TMS wells from mid-July through early September.  All six wells, which are located within the Company's core acreage position of 150,000 net acres, will be completed prior to the fall borrowing base redetermination scheduled for October 2015.

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The Company's full year capital expenditure budget of $90 - 110 million was front-end loaded, with approximately 46%…

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