Goodrich Petroleum Corp., Houston, expects to begin hydraulic fracturing operations on its next two Haynesville wells, the Cason-Dickson 14&23 No. 1 & 2 (92% WI), early this month. The company noted its plans as part of its fourth quarter and yearend 2017 update.
The sale of certain production, facilities, infrastructure and a portion of its acreage in the Angelina River Trend to BP America Production Company has closed and a portion the proceeds will go to pay debt ahead of the company’s plans to accelerate development of its North Louisiana Haynesville asset in the second half of this year.
Goodrich spent the majority of its fourth quarter 2017 and fullyear 2017 capex, $16 million and $41.8 million, respectively, on drilling and completion of operated Haynesville wells, the company said.
With the completion of the Wurtsbaugh 25&24-14N-16W 2H (55% WI) and the Wurtsbaugh 25&24-14N-16W 3H (55% WI) wells, both in DeSoto Parish, Louisiana, Goodrich is producing 60 MMcfd gas equivalent. The Wurtsbaugh 25&24-14N-16W 2H achieved a 24-hour peak rate to date of 25 MMcfed from a producing lateral length of 7,249 ft. The Wurtsbaugh 25&24-14N-16W 3H achieved a 24-hour peak rate to date of 30 MMcfed from a producing lateral length of 7,465 ft.
The company's fourth quarter 2017 production totaled 2.9 bcfe, with average daily production of 31.2 MMcfed (86% natural gas). Production for the year totaled 12.2 bcf equivalent, with average daily production of 33.3 MMcfed (85% natural gas).
Capital expenditure guidance for this year is $65–75 million.