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Goodrich Petroleum 01-30-2015 News Release

Posted by bernell on January 30, 2015

Goodrich Petroleum announced plans to cut its capital budget more or less in half for 2014.  Here is a link to the news release.


Notice this sentence toward the end of the news release:

"Oil production volumes are expected to average approximately 4,800 – 5,200 barrels per day for 2015, which includes completion deferrals into the second half of 2015."

This meshes with observations that fracking operations were not taking place on wells where drilling operations have been completed.

As I've said several times, with the price of oil as low as it is, I think this is a smart move.




What do you think about it?