Goodrich Petroleum Announces Tuscaloosa Marine Shale ("TMS") Well

Result And Operational Update

Date(s): 7-Jul-2014 9:15 AM

HOUSTON, July 7, 2014 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE: GDP) today announced the completion of its Beech Grove 94H-1 (66.7% WI) well inEast Feliciana Parish, Louisiana.  The well has achieved a peak 24-hour production rate to date of approximately 740 barrels of oil equivalent ("BOE") per day, comprised of 672 barrels of oil and 412 Mcf of gas on a 19/64 inch choke.  The Beech Grove94H-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% WI) well in West Feliciana Parish, Louisiana, and its Denkmann 33-28H-2 (75% WI) and Bates 25-24H-1 (97.6% WI) wells in Amite County, Mississippi.  The Company continues with drilling operations on its CMR-Foster Creek 24-13H-1 (84.7% WI) well in Wilkinson County, Mississippi and plans to spud its Spears 31-6H #1 (73.9% WI) well in Amite County, Mississippi and its CMR-Foster Creek 31-22H #1 (89.5% WI) well in Wilkinson County, Mississippi in the coming days. 

The Company is currently running three rigs in the TMS 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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