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Goodrich Ramping Up Capex, Production for 2021

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Goodrich Ramping Up Capex, Production for 2021

Goodrich Petroleum Corp. announced fourth quarter and year-end 2020 financial and operating results as well as its 2021 plan.

2021 Plan

- Capex: $75-85 million - up 42% vs. 2020 levels of $56.5MM

Bethany-Longstreet Asset: $52.5-59.5 million
Greenwood-Waskom Asset: $22.5-25.5 million

- Production: 160-170 Mmcfe/d - up 23% from 2020 output of 134 Mmcfe/d

Gas Production: 158-168 Mmcf/d - up 24% from 2020 levels of ~131.3 Mmcf/d Liquids Production (Oil+NGL): ~282.8-300.4 BOPD - down 39% from 2020 levels of 477.2 BOPD

- Wells Completed: 17 gross wells (9.4 net)

Q4/Full Year Financial Highlights Adjusted net income was $3.3 million for the quarter and $2.7 million for the year. The Company had a net loss of $7.9 million ($0.62 per basic and fully diluted share) for the quarter…
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