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ALT - Goodrich focusing 2020 activity on Bethany-Longstreet - April 2, 2020

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On March 16, Goodrich Petroleum lowered its 2020 capital budget by $15 million to $40-50 million. The company has allocated the majority of that budget to drilling and completing Haynesville wells at Bethany-Longstreet field in Caddo and DeSoto parishes, Louisiana. Production guidance is now 137-142 MMcfe/d (99% gas), which would be 5-7% growth compared to 2019. Half of the expected natural gas volumes are hedged at a blended average price of $2.60/MMbtu. At $2.00-$2.50/MMbtu......
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