Goodrich Petroleum (GDP) has focused on developing its natural gas assets in the Haynesville Shale since emerging from bankruptcy in 2016. It has been able to achieve excellent well-level results that have consistently been above its type curve. This has allowed Goodrich to reduce its 2019 capital expenditure budget by around 30% and still expect to deliver average 2019 production that is around 40% above Q4 2018 levels. With that reduced capital expenditure budget, Goodrich is expected to only have modest cash burn in 2019, with its leverage at around 0.8x by the