Robert Turnham, President and Chief Operating Officer of Goodrich Petroleum Corporation (NYSE: GDP), presented today at EnerCom’s The Oil & Gas Conference® 20.
Goodrich Petroleum Corporation is an independent exploration and production company engaged in the exploitation, development and production of crude oil and natural gas primarily in the Tuscaloosa Marine Shale in Eastern Louisiana and Southwestern Mississippi, the oil-window of the Eagle Ford Shale trend in South Texas and the Haynesville Shale in Northeast Texas and Northwest Louisiana.
Goodrich Petroleum reported adjusted revenue of $37.3 million in its second quarter results for 2015. Goodrich has undertaken initiatives to enhance liquidity. Current Tuscaloosa Marine Shale well costs have decreased to approximately $10.5 million on the most recent drilled and completed well.
During the company’s breakout session, management was asked the following questions:
- Can you talk about plans for drilling in the TMS and Haynesville Shale?
- You mentioned Haynesville Shale extended laterals. What is the shorter lateral length range?
- Is there money left on the budget to do something in the Haynesville by the end of this year?
- What’s the current thinking to bring the TMS rate back?
- Can you give the big picture for the decision between the last two completions and TMS wells? Can you give us a little bit on the potential timing?
- Can you talk a little bit about services cost reduction? Can you talk about profit margins?
- Where can you expect to see market growth?
- What is your goal for growth this year?
- Can you talk about the Eagle Ford Shale? Is there any way to put more capital into it?
- You talked about plans to pick up more TMS groups in next couple years. Have you taken any action on that front?
- What kind of relationships do you have with players in the TMS?
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