Goodrich Petroleum Corp (GDP)

Overview

Founded in 1995, Goodrich Petroleum Corporation is an independent entity primarily involved in exploring, developing, and producing oil and natural gas properties across the United States. Its operations concentrate on extracting valuable resources from key geological formations, including the Haynesville Shale Trend in northwest Louisiana and East Texas, the Tuscaloosa Marine Shale Trend in southwest Mississippi and southeast Louisiana, and the Eagle Ford Shale Trend in South Texas. With its headquarters in Houston, Texas, Goodrich Petroleum has established itself as a major player in the domestic energy sector, boasting ownership interests in 189 producing oil and natural gas wells spread across 37 fields in six states. As of the end of 2020, the company's estimated proved reserves stood at approximately 543 billion cubic feet equivalent, comprising mainly natural gas and a smaller fraction of crude oil and other liquid hydrocarbons.

Products and Services

• Exploration Services:

Goodrich Petroleum Corporation is heavily involved in the exploration of oil and natural gas reserves. Leveraging cutting-edge technology and geological expertise, the company identifies and assesses potential drilling sites within significant hydrocarbon-rich formations across the United States. This foundational service enables the continuous growth and expansion of Goodrich's operational footprint in the energy sector.

• Development and Production:

Following successful exploration efforts, Goodrich invests in the development of identified sites to extract oil and natural gas. The company utilizes advanced drilling and extraction techniques to optimize recovery rates and ensure the efficient production of hydrocarbons. This includes the development of wells in strategically selected locations within its key operational areas such as the Haynesville Shale, Tuscaloosa Marine Shale, and Eagle Ford Shale trends. The primary aim is to enhance production volume while adhering to environmental and safety standards.

• Oil and Natural Gas Sales:

The culminating service offered by Goodrich Petroleum is the sale of extracted oil and natural gas. The company markets its products to a diverse client base, ranging from large scale industrial consumers to regional distributors. Through strategic marketing and sales operations, Goodrich maximizes revenue from its developed reserves, contributing to the company's profitability and enabling further investment in exploration and development activities.