Top Story | Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2018
Haynesville Operator Boosts Spending ; Now Plans 21 Well Drilling Program
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Goodrich Petroleum said it is increasing its 2018 development program by $20 million to $85-$95 million. The capital will be spent developing the company's asset in the Bethany-Longstreet and Thorn Lake areas of Caddo, DeSoto and Red River Parishes, Louisiana.
The drilling program calls for 21 gross (8.7 net ) horizontal wells for the year, with a blended net average lateral length of approximately 9,000 feet. The budget currently contemplates that the Company would operate approximately 85% of its net wells for the year.
Based on the revised accelerated budget, the Company expects net production to grow throughout the year with an estimated 2018 exit rate of approximately 100,000 Mcfe per day.
Prelim 2019 guidance
For 2019, the Company's board approved a preliminary capital expenditure…
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