Goodrich Petroleum Announces Tuscaloosa Marine Shale Well Result

GDR will have 5 rigs drilling soon. It's only a matter of time before someone gets the AFE's down enough and everyone will jump on the TMS bandwagon.

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The well has achieved a peak 24-hour production rate to date of approximately 740 barrels of oil equivalent ("BOE") per day

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That's probably not what they were looking for.

Thanks for the heads up. Do you know what the rig count is in EFP by chance?

That was simple.

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That's probably not what they were looking for.

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Probably true, but about ten years ago, shale in general wasn't worth producing, but exploration went on. Now, with added technology and higher prices, shale is a goldmine.

At some point, every find is going to become worthwhile. Isn't that why exploration never stops and wells get capped until they're worth producing?

EDIT: I have no skin in this game, just thoughts from watching energy over the years.

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Probably true, but about ten years ago, shale in general wasn't worth producing, but exploration went on. Now, with added technology and higher prices, shale is a goldmine.

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Shale isn't exactly a goldmine, but it can work in selective places at high enough prices. We are advancing into harder to extract oil and gas from the easy conventional stuff, but the returns from unconventional plays still are nowhere near the conventional wells of years past. The issue for the TMS is that ECA and GDP are having a hard time getting a high enough level of production to justify what the wells cost. The last three well results seem to be sub par and probably aren't economic. The resource is known and substantial but will it work at $100 oil? So far the jury is still out.

shite, I have a friend with some land up that way, Hope he's getting paid something. No good for me, my land is well south of Clinton. Is there any activity in the southwest corner of E Feliciana, south of Clinton?

Thanks for that. With the less than enthusiastic findings of late, it may be a while before it is profitable to really get going here. Guess I'll go to work today.

Bump

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TUSCALOOSA MARINE SHALE ("TMS"):

HOUSTON, Aug. 7, 2014 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE: GDP) (the "Company") today announced financial and operating results for the second quarter ended June 30, 2014.

The Company's SLC, Inc. 81H-1 (67% WI) well in West Feliciana Parish, Louisiana has achieved a peak 24-hour production rate to date of approximately 900 Boe/day (96% oil) from an approximate 7,000 foot lateral with 27 frac stages.
The non-operated Lewis 7-18H-1 (17% WI) well in Amite County, Mississippi, has achieved a peak 24-hour production rate to date of approximately 1,500 Boe/day (93% oil) from an approximate 8,100 foot lateral with 29 frac stages.

The non-operated Mathis 29-32H-1 well in Amite County, Mississippi has achieved a peak 24-hour production rate to date of approximately 1,300 Boe/day (92% oil) from an approximate 6,400 foot lateral with 17 frac stages. The Company owns a 6.5% reversionary interest in the well and the right to participate in subsequent wells drilled in the unit.

The Company's previously announced Beech Grove 94H-1 (67% WI) well in East Feliciana Parish, Louisiana, which had a reported initial rate of 740 Boe/day, achieved a 30-day average production rate of approximately 600 Boe/day (90% oil). The Beech Grove continues to perform very well and has thus far exhibited a flatter decline curve profile. The well is currently producing approximately 550 Boe/day and is currently on the Company's 600 MBoe type curve.

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