Goodrich Updates Tuscaloosa Marine Shale Activity

Goodrich Petroleum announced Monday the completion of its Beech Grove 94H-1 (66.7 percent WI) well in East Feliciana Parish, Louisiana. The well has achieved a peak 24-hour production rate to date of approximately 740 barrels of oil equivalent (boepd), comprised of 672 barrels of oil and 412 thousand cubic feet of gas on a 19/64 inch choke. The Beech Grove 94H-1 well was drilled with an approximate 6,000 foot lateral, landed in the company's lower target and was completed with 21 frac stages.

The company has commenced completion operations on its SLC, Inc. 81H-1 (66.7 percent WI) well in West Feliciana Parish, Louisiana, and its Denkmann 33-28H-2 (75 percent WI) and Bates 25-24H-1 (97.6 percent WI) wells in Amite County, Mississippi.

Goodrich continues with drilling operations on its CMR-Foster Creek 24-13H-1 (84.7 percent WI) well in Wilkinson County, Mississippi and plans to spud its Spears 31-6H #1 (73.9 percent WI) well in Amite County, Mississippi and its CMR-Foster Creek 31-22H #1 (89.5 percent WI) well in Wilkinson County, Mississippi in the coming days.

The company is currently running three rigs in the Tuscaloosa Marine Shale with plans to go to as many as five rigs by the end of the year pending continued success. The company has in excess of 300,000 net acres in the play.

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