Friday, October 14, 2016

Welcome Back, Goodrich

On Wednesday, Goodrich Petroleum announced that it is exiting its Chapter 11 bankruptcy and has $20 million to spend to restart its Haynesville Shale drilling program.  The company didn't elaborate with specifics on how it plans to spend the money.  It's unlikely $20 million buys a lot, even with suppliers probably offering generous terms, but at least it's a start.  Godspeed Goodrich!