Goodrich Petroleum (GDP) has continued to demonstrate consistently good results with its Haynesville Shale wells, having recently completed its 4,600' Melody Jones 20H-1 well. This well had average 24-hour initial production of around 22,000 Mcfe per day on a restricted choke program.
However, deteriorating natural gas prices for 2020 means that Goodrich may not end up with much (if any) production growth next year if it wants to avoid cash burn.
Updated 2019 Outlook At Strip Prices
At current 2019 strip prices of close to $2.50 natural gas, Goodrich may generate around $139