Casey Hoerth
Long only, long-term horizon, growth at reasonable price, dividend investing

Goodrich Petroleum: Forget About Mediocre Well Results And Focus On The Big Picture

Goodrich Petroleum (GDP), the largest operator and acreage holder in the Tuscaloosa Marine Shale, has come back down to earth over the last few weeks. Just less than two months ago shares were as high as $29, only to fall back down to around $17.50 today.

(click to enlarge)

Chart by Yahoo! Finance

Some may call Goodrich's performance an exciting ride, while some may call it a treacherous one. Shares reached a 1-year low at around $12 back in February. Fantastic initial production results from the Blades 33H-1 well drove shares up by some 30% in just one day. For about two months shares continued to their high of $29.50.

Then, in the middle part of June, management announced the...

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