Goodrich going ALL IN in the TMS. Math equates to just under $150/acre.
Goodrich Petroleum Corporation Announces Agreement To Purchase Producing Properties And Approximately 185,000 Net Acres In The Tuscaloosa Marine Shale Trend For $26.7 Million; Company Also Announces Initial Completion Result Of Its Smith 5-29H No. 1 Well At 1,045 Barrels Of Oil Equivalent Per Day (96% Oil)
Jay
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Permalink Reply by Steve on
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They announced the IP for the Smith at 1045 boepd but I have heard (a rumor only) that they had a problem milling the plugs and still have a lot of the plugs to drill and will be going back in with a snubbing unit shortly to complete the job. If this is true, they are producing from less than the full +5000 ft. lateral,which means potentially they would have had a much better IP than 1045.
Any one else hear this?
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