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Goodrich Touts TMS Improvements; IPs, Pad Drilling
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Goodrich Petroleum Corporation announced financial results and an operational update for the first quarter ended March 31, 2015.
Highlights: Adjusted Revenues were $37.1 million for the quarter versus $49.1 million in the prior year period; Earnings before interest, taxes, non-cash General & Administrative expenses and exploration was $24.5 million in the quarter, compared to $29.1 million in the prior year period; Capital expenditures for the quarter totaled $48.4 million, which will be reduced to an estimated $10 – 15 million in the second quarter; Production for the quarter totaled 780,000 barrels of oil equivalent (56% oil), which was affected by deferred completions. Oil volume growth expected to resume in the third quarter as previously drilled wells are completed beginning in…Finish this article — free account or subscription
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