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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Goodrich Petroleum Corporation | AMEX:GDP | AMEX | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 23.02 | 0 | 00:00:00 |
From Dec 2019 to Dec 2024
HOUSTON, Sept. 1, 2021 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE American: GDP) (the "Company") today announced an acquisition in the core of the Haynesville Shale basin and updated third quarter and fourth quarter of 2021 and preliminary 2022 guidance.
ACQUISITION
The Company has acquired eight wells producing approximately 2,000 Mcfe per day and approximately 5,800 gross (4,500 net) acres in the core of the Haynesville Shale basin in Caddo and Bossier Parishes, Louisiana for $1.5 million and the obligation to drill eight wells over a four year period. The Company now has approximately 32,000 net acres in the core of the play.
GUIDANCE
The Company is giving additional guidance for the third quarter and fourth quarter of 2021 and preliminary guidance for 2022 based on current strip prices and subject to quarterly review, as follows:
3Q21 | 4Q21 | 2022 | |
Production (Bcfe – 99% Natural Gas): | 15.2 – 16.1 | 17.3 – 18.2 | 76.7 – 87.6 |
Average Daily Production (Mcfe Per Day) | 165,000 – | 187,500 – | 210,000 – 240,000 |
Hedged Percentage (Midpoint) | 84% | 78% | 43% |
Swaps ($2.86, $2.90 & $2.94, respectively) | 66% | 62% | 16% |
Collars ($2.50 - $3.50 for 2021 & $2.68 - | 18% | 16% | 27% |
LOE (Per Mcfe) | $0.18 - $0.23 | $0.18 - $0.23 | $0.17 - $0.21 |
Transportation & processing (Per Mcfe) | $0.27 - $0.29 | $0.27 - $0.29 | $0.25 - $0.31 |
Production & other taxes (Per Mcfe) | $0.06 | $0.06 | $0.05 - $0.07 |
G&A (Per Mcfe – Cash) | $0.19 - $0.23 | $0.19 - $0.23 | $0.16 - $0.22 |
Adjusted EBITDA | $32 - $36 Million | $38 - $42 Million | $180 - $200 Million |
Capex | $23 - $27 Million | $16 - $20 Million | $105 - $125 Million |
Reinvestment Rate | ~75% | ~45% | ~60% |
Free Cash Flow | $6 - $10 Million | $19 - $23 Million | $65 - $85 Million |
Net Debt (6/30/21) | $121 Million | ||
Basic Shares (6/30/21) | 13.4 Million | ||
Fully Diluted Shares (6/30/21) | 15.3 Million | ||
View original content to download multimedia:https://www.prnewswire.com/news-releases/goodrich-petroleum-announces-acquisition-and-updated-2021-and-preliminary-2022-guidance-301367575.html
SOURCE Goodrich Petroleum Corporation
Copyright 2021 PR Newswire
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