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Goodrich Ups Capex +75% for 2018; Focus On Haynesville
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Goodrich reported its 2018 budget and guidance.
Details: 2018 Capex: $65-75 million (up +75% from 2017's budget of $40 million) Drill Plans: Drill 16 gross (6.5 net) wells (average lateral of 9,000') - focused on core Haynesville Production Growth: Based on the preliminary budget, the Company expects to grow production by 130-145% YOY to a range of approximately 28.3 30.3 Bcfe, or an average of 77,000 83,000 Mcfe per day for the year. Current Well Activity:The Company is currently fracking its Franks 25&24 No. 1 (69% WI) well, a 10,000 foot lateral in the Bethany-Longstreet field of DeSoto Parish, Louisiana, with plans to zipper frac its Wurtsbaugh 25&24 No. 2 & 3 (55% WI) wells upon completion of the Franks well. Both Wurtsbaugh wells are approximately 7,500 foot laterals. All…
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