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Goodrich’s Haynesville to drive 90-105% growth
In light of reduced oil and gas prices, Goodrich Petroleum reduced its 2019 capex 31% at midpoint to $90-100 million from an initial $125-150 million plan to keep its YE19 debt-to-EBITDA target at 1.0x. The company will start 2019 with one rig running and plans to add a second in Q2 to drill 11 total operated horizontal wells next year with laterals averaging 7,000 ft, primarily targeting the Haynesville in its core 14,500-net-acre Bethany-Longstreet......
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