HOUSTON, Oct. 21, 2013 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE: GDP) (the "Company") today announced that it has closed its previously announced public offering of 6,900,000 shares of the Company's common stock at $25.25 per share, which includes 900,000 shares of common stock purchased pursuant to the full exercise of the underwriters' option to purchase additional shares of common stock.
The Company intends to use the net proceeds from the offering of approximately $165.9 million to fund the acceleration of its drilling program in the Tuscaloosa Marine Shale ("TMS"), including an increase in its number of horizontal rigs running in the TMS from two currently to five by the end of 2014.
Johnson Rice & Company L.L.C., RBC Capital Markets and Scotiabank / Howard Weil acted as joint book-running managers for this offering. BMO Capital Markets, Global Hunter Securities, IBERIA Capital Partners L.L.C., SunTrust Robinson Humphrey and Stifel acted as senior co-managers and Capital One Securities, KLR Group, MLV & Co., Simmons & Company International and U.S. Capital Advisors acted as co-managers for the offering.
The offering was made only by means of a prospectus, forming a part of the Company's effective shelf registration statement, related prospectus supplement and other related documents. You may obtain these documents for free by visiting EDGAR on the Securities and Exchange Commission website at www.sec.gov. Alternatively, copies may be obtained from Johnson Rice & Company L.L.C., Attn: Corporate Finance Department, 639 Loyola Avenue, Suite 2775, New Orleans, LA 70113, phone (800) 443-5924; RBC Capital Markets, Attn: Equity Syndicate, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281, phone (877) 822-4089; or Scotiabank / Howard Weil, Attn: Equity Capital Markets, 165 Broadway, One Liberty Plaza, 25th Floor, New York, NY 10006, phone (212) 225-6853.This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.