Current GDP Stock Info

Goodrich Petroleum Company Breakout Notes

Gil Goodrich, chairman and CEO of Goodrich Petroleum Corp., (ticker: GDP) presented today at EnerCom’s The Oil & Gas Conference® 22.

Goodrich Petroleum Corp.’s core producing acreage is found in the Haynesville shale, where it is utilizing higher proppant concentrations and longer laterals to grow its production. The company also has assets in the Tuscaloosa Marine shale and the Eagle Ford shale.

Goodrich produced approximately 36,300 Mcfe per day during its second quarter. This value is 40% higher than its Q1 production—which was approximately 26,000 Mcfe per day. With July production averaging approximately 44,000 Mcfe per day, the company has revised its production guidance to between 55,000 and 60,000 Mcfe per day.

During the company’s breakout session, management was asked the following questions:

  • In terms of “cap” structure, is there additional liquidity over time?
  • With great ROR, some investors may be interested in certain percentages of your inventory let’s say 17%? Is there a way to leverage such inventory?
  • For the Tuscaloosa Marine Shale (TMS) Acreage, do you expect to conduct any developmental plans on this asset?
  • Some companies sell assets to raise cash, have you considered selling assets for such purposes?
  • What is the TMS break even on oil price? Do you get any value impounded?
  • In the Haynesville, Is it becoming tighter/harder to get crude production on schedule?
  • Could you confirm whether the “spear” infrastructural capacity was 2.5 Bcf or does it exceed that capacity? In addition, will LNG exports become more meaningful or attractive in the long run due to limited infrastructural capacities?
  • Is any operator or company operating at larger than 5,000 lbs. on pumps?
  • Have you being approached by LNG companies interested in acquiring your assets?

Goodrich presented at EnerCom’s 2017 The Oil & Gas Conference®.

You can listen to the company’s presentation by clicking here.

You can view the company’s Q2 update by clicking here.

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