Goodrich Petroleum (GDP) has trimmed its capital expenditure budget so that it can generate more positive cash flow under current market conditions. This will help reduce its debt and allow it to handle a potential borrowing base reduction.
The oil price crash has a minimal impact on Goodrich's near-term financials due to its 1% oil production. The longer-term impact may end up being neutral to slightly positive due to the effect of lower oil prices on associated natural gas production. Natural gas producers are also reducing capex, so I would expect the market