Goodrich Petroleum Corp. reduced its preliminary 2020 capex budget by $15 million to the $40-50 million range, allocating most of the budget to drilling and completing core Haynesville shale wells in the Bethany-Longstreet area of Caddo and DeSoto parishes, Louisiana. It expects to produce 5-7% more output YOY for an average 137-142 MMcfe/d (99% gas). At midpoint of its new guidance, Goodrich estimates free cash flow yield of about 13% of its current enterprise......
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