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Goodrich: Two TMS Wells Awaiting Completion; All Rigs Retired
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Goodrich Petroleum Corporation announced financial results for the quarter ended September 30, 2015 and a financial update.
Key Points:
Approximately 96% of the quarter's total capital expenditures were spent drilling and completing wells and extending leases for future drilling operations in the TMS. The Company currently has no rigs running in any of its areas and has two TMS wells waiting on completion. 3Q Highlights: Capital expenditures for the quarter totaled $16.4 million. Full year capital expenditures expected to be lower by 10-15% versus previous guidance; Production for the quarter totaled 645,000 barrels of oil equivalent (50% oil), which was affected by deferred completions and the sale of the Company's Eagle Ford production, proved reserves and associated…- ✓ Full news archive — U.S., Canada & international coverage
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