Early Analysis of Goodrich Results
The Goodrich Report Resets the TMS in my eyes.
Things have looked cloudy of late, but with the results from the two Goodrich delineation wells of Goodrich Beech Grove 94H-1 and Goodrich SLC 81H-1 and the results from the "sweet spot" wells of the EnCana Mathis 29-32H-1 and the EnCana Lewis 30-19H-1, it appears the storm has moved on.
Indeed the sun is shining and the sky is a clear blue this morning.
Or, that's how I see it.
It is particularly interesting to note that the SLC has only a 12/64 choke on it...that's small folks. The SLC may not have reached peak production, yet. According to my sources it began flowing back on July 25, so that's 13 days of flow back...with a 7,000 foot lateral there could still be more to come.
But, WOW, 96% oil. That's impressive. I had the thoughts it was going to have a much higher % of gas. This well result definitely widens the play's boundaries.
The Lewis also is still in the early days considering its lateral length. And, its results are already impressive, as expected considering its location. The Mathis, likewise, is impressive as expected.
Current and upcoming fracturing operations merit watching. The Goodrich Denkmann 33-28H-2 is in the heart of the play and good results are to be expected. The Goodrich Bates 25-24H-1 is another delineation well...good results here will, again, widen the play.
We will anxiously await what Goodrich management has to say at 10 a.m. See the link to the webcast below.
In the meantime...what do you think?
http://phoenix.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=83169&eventID=5165586
