Goodrich Petroleum (ticker: GDP) reorganized its debt structure on September 2, 2015 in an effort to enhance near-term liquidity. The terms, as explained in a company-issued news release, include replacing its initial loan of $55 million in 5% senior convertible notes due 2032 in exchange for $27.5 million in 5% senior convertible notes also due 2032. The new agreement carries
Acreage Value Increase of 441% Since Initial Purchase in 2010 Goodrich Petroleum (ticker: GDP) sold its proved reserves and approximately 13,000 net acres in the Eagle Ford Shale for $118 million to an undisclosed buyer, the company said in a July 27 news release. The assets are located in LaSalle and Frio Counties of Texas and include Q1’15 production of
Goodrich Petroleum (ticker: GDP) is turning two of its six uncompleted Tuscaloosa Marine Shale (TMS) wells online and expects initial production within two weeks. The Houston-based exploration and production company will turn the remaining four wells online before its borrowing base redetermination in October. Three nearby completed wells, all operated by GDP, returned respective 24-hour rates of 1,370, 1,275 and
