HOUSTON, Oct. 9, 2013 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE: GDP) today announced the completion of its CMR-Foster Creek 20-7H-1 (99% WI) well in Wilkinson County, Mississippi. The well was successfully drilled with a 6,200 foot lateral and fracture stimulated with 23 stages but encountered completion issues while drilling out the frac plugs with coiled tubing resulting in the loss of a bottom hole assembly and fishing tools in the well. The Company replaced the coiled tubing unit with a workover rig in an attempt to remove the downhole tools but fishing operations were un-successful. The well was subsequently placed on production from the approximately 2,100 feet of usable and unobstructed lateral.
The well has reached a 24-hour peak production rate of 527 barrels of oil equivalent ("BOE") per day, comprised of 500 barrels of oil and 174 Mcf of gas on a 16/64 inch choke from the 2,100 feet of lateral.
The Company is currently drilling the lateral of the Huff 18-7H-1 (97% WI) well in Amite County, Mississippi, with plans to go to two rigs later this month.
The Company currently has in excess of 300,000 net acres in the Tuscaloosa Marine Shale.
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