Goodrich Petroleum snaps up more acreage
The gas-focused operator is rapidly growing both its portfolio and production base in the Haynesville shale
The size of Houston-based independent Goodrich Petroleum’s deals may not rival some of the other M&A activity that has dominated recent headlines in the Haynesville shale play. But the firm’s laser focus on expanding its acreage as the key to driving a production boom is an instructive guide to corporate logic in the basin. Goodrich added another 4,500 net acres to its core Haynesville portfolio in early September at a cost of $1.5mn. The deal included eight producing wells in Caddo and Bossier counties, taking it to 32,000 net acres in the basin. “We continue to seek and review bolt-on opportunities to expand our footprint through acquisitions” Turnham, Goodrich “We remain focu
Also in this section
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them
22 April 2024
Beijing’s renewed targeting of NOC management could threaten investment