Oil & Gas Pro

Goodrich Petroleum Announces Haynesville Shale Well Results (5/18/09)

HOUSTON, May 18 /PRNewswire-FirstCall/ -- Goodrich Petroleum Corporation (NYSE: GDP) today announced results on three Haynesville Shale wells.

The Company has completed its initial horizontal Haynesville Shale well in East Texas, the J.K. Williams 7H, which tested at a rate of 7.0 MMcf per day on a 34/64 inch choke with 2,800 psi. The well is located in the Company's Beckville/Minden area of Panola County, Texas. Goodrich is operator and owns a 100% working interest in the well.

The Company has also completed two additional Haynesville Shale wells in the Bethany-Longstreet field of Caddo and DeSoto Parishes, Louisiana. The Chesapeake Energy - Branch 2H-1 tested at a rate of 14.3 MMcf per day on an 18/64 inch choke with 6,750 psi, and the Chesapeake Energy - ROTC 1H-1 tested at a rate of 14.1 MMcf per day on an 18/64 inch choke with 7,150 psi. The Company owns a 50% working interest in both wells.

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landownerPermalink Reply by Spring Branch,mineral owner on May 18, 2009 at 3:12
I believe they are very happy with their Bethany-Longstreet results. Not so much with their East Texas results.

Oil & Gas ProPermalink Reply by The_Baron on May 18, 2009 at 4:08
In other words, the wells they have drilled are not as good, but the ones that CHK has drilled that they participated in are very good. Makes you wonder about which operator you would rather have.

Oil & Gas ProPermalink Reply by Les Bamburg on May 18, 2009 at 4:16
Baron, I would say their well in East Texas is comparable to results by other operators.

landownerPermalink Reply by Catfish on May 18, 2009 at 4:50
Jay, I noticed the pressure is way down, does this indicate the amount of gas in place?

Oil & Gas ProPermalink Reply by Les Bamburg on May 18, 2009 at 5:29
Catfish, that is the flowing pressure (surface) rather than the shut-in bottomhole pressure that is used in calculating original gas in place.

landownerPermalink Reply by Catfish on May 18, 2009 at 5:51
Would the flowing pressure relate to the bottom hole pressure?

landownerPermalink Reply by w.r. frank on May 18, 2009 at 6:06
This is comparable to PVA, GMXR, DVN results in East TX horizontals of late--most in the 6-8 mmcfd range. DVN hinted at a better decline curve in it's most recent well (as did PVA many months ago) and DVN said 6-8 bcfe EUR, which is comparable to CHK and HK current estimates "across the whole play" of 6.5-7.5 bcfe. Others are now moving to 8-10 bcfe EUR in sweet spot.

You should check out decline curve in latest XCO presentation for it's four Desoto wells.

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