In defiance of all the skepticism surrounding the Tuscaloosa Marine Shale ("TMS") horizontal oil play, Goodrich Petroleum's (GDP) big bet on this deep and highly challenging formation has begun to bear fruit. Supported by several strong well results and a major acreage acquisition, Goodrich's stock has posted a spectacular 76% increase since July 19, 2013 (based on $25.58 closing price on September 20, 2013).
Following Devon's exit, Goodrich remains one of the only two large acreage holders in the core of the TMS, alongside Encana (ECA). As the most recent news flow from the TMS continues to support optimism with regard to possible future commerciality of the play, Goodrich looks intriguing as essentially the only pure...
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