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November 2014

Goodrich Operating Report...First Blush

Posted by bernell on November 4, 2014

It is now 11:19 and the Goodrich 3rd quarter report is continuing.

I have recorded it and will listen to it again and likely listen to it again.

THEN, I will post a summary of my understanding of the report.

That said, here is a first impression summary.

Goodrich is pleased with current results.

Plans for 2015 include moving to 2+ well pad drilling.  Current drilling costs are in the $13 million range and the pad drilling and other improvements are expected to drop those costs into the $11 million range in 2015.

Debate/questions over the estimated ultimate recovery from these wells was met with a detailed explanation on how Goodrich computed the EUR for their wells.

Goodrich continues to plan on a JV partner without relying upon a JV partner for the near future. 

Plans for 2015 are not settled, but 2-4 rigs are likely.

Drilling will be "in the fairway" between the Blades and Crosby in the near future and most of the wells drilled will be where partners (Sinnopec, mostly) are involved.

All that said, things remain fluid.

What do you think about it?