Thursday, June 4, 2009

Goodrich: Update

This week, Goodrich Petroleum announced results from a recent Haynesville Shale well in the Beckville/Minden field in Panola County, Texas. The Lutheran Church 5HR well tested at an initial production rate of 9.0 MMcf per day on a 26/64 inch choke with 4,375 psi. The well was completed with approximately 3,100 feet of lateral length and ten stages. These are some pretty strong results for the Texas side of the Haynesville Play. Given the bump in Goodrich's stock on Tuesday, the day this news came out, the market seems to agree that this is good news. The well is located to the east on the map below of Goodrich's progress in its Texas fields.

The maps below give an update on other Goodrich wells (and a few competitors). The first map is the larger map to give context and the following two show results from specific fields in Louisiana.

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