HOUSTON, Jan. 6 /PRNewswire-FirstCall/ -- Goodrich Petroleum Corporation
(NYSE: GDP) today announced well results in the Haynesville Shale and Angelina
River Trend.
HAYNESVILLE SHALE
The Company has completed its initial horizontal Haynesville Shale well,
the Chesapeake Energy Corporation-operated Holland 17H-1, which tested at a
rate of approximately 14.5 MMcf per day on a 24/64 inch choke with 6,000 psi.
The well, which was drilled to 16,200 feet, had a horizontal displacement of
approximately 4,400 feet (3,800 feet cased), and is located in the Company's
Bethany-Longstreet area in Caddo Parish, Louisiana. Goodrich owns a 50%
working interest in the well, Chesapeake owns 40% and Plains Exploration &
Production Company owns 10%.
ANGELINA RIVER TREND
The Company has completed its Estes 2H (100% WI), a James Lime horizontal
well on its Cotton South prospect area, which tested at 7.0 MMcf per day on a
35/64 inch choke with 1,500 psi.
OTHER INFORMATION
Certain statements in this news release regarding future expectations and
plans for future activities may be regarded as "forward looking statements"
within the meaning of the Securities Litigation Reform Act. They are subject
to various risks, such as financial market conditions, operating hazards,
drilling risks, and the inherent uncertainties in interpreting engineering
data relating to underground accumulations of oil and gas, as well as other
risks discussed in detail in the Company's Annual Report on Form 10-K and
other filings with the Securities and Exchange Commission. Although the
Company believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such expectations
will prove to be correct. Initial production rates are subject to decline
over time and should not be regarded as reflective of sustained production
levels.
Goodrich Petroleum is an independent oil and gas exploration and
production company listed on the New York Stock Exchange. The majority of its
properties are in Louisiana and Texas.
SOURCE Goodrich Petroleum Corporation
-0- 01/06/2009
/CONTACT: Robert C. Turnham, President, or David R. Looney, Chief
Financial Officer, both of Goodrich Petroleum Corporation, +1-713-780-9494, or
fax, +1-713-780-9254/
/Web Site: http://www.goodrichpetroleum.com/ /
(GDP)
CO: Goodrich Petroleum Corporation
ST: Texas
IN: OIL
SU: DSC
PR
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8743 01/06/2009 07:00 EST http://www.prnewswire.com
