Forecast - Production | Hedging | Capital Markets | Capital Expenditure | Capex Decrease | Capital Expenditure - 2020 | 2020 Guidance
Goodrich Lowers 2020 Capex by $15MM; May Up Ops in 2H20 if Prices Improve
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Goodrich Petroleum Corp. has lowered its 2020 preliminary capital expenditure budget by $15 million to $40 - $50 million, which is expected to generate free cash flow of an estimated $15 - $25 million at $2.00 - $2.50 natural gas prices.
May Up Ops in 2H20 Based on Commodities; Haynesville FocusThe preliminary capital expenditure budget is subject to quarterly review and approval by the Company's board of directors, with the flexibility to accelerate in the second half of the year depending on commodity prices. The Company has allocated the majority of the budget to drilling and completing core Haynesville Shale wells in the Bethany-Longstreet area of Caddo and DeSoto Parishes, Louisiana.
The Company now expects to grow production by 5 - 7% versus 2019 to a range of approximately 50 - 52…
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