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Goodrich Petroleum (NYSEMKT:GDP) announces a preliminary 2012 capex budget of $250M-275M, and...

Jan. 04, 2012 5:10 AM ETGoodrich Petroleum Corporation (GDP) StockGDPBy: Rachael Granby, SA News Editor

Goodrich Petroleum (NYSEMKT:GDP) announces a preliminary 2012 capex budget of $250M-275M, and estimates oil volumes will grow 130-160% this year vs. 2011. EBITDAX (X for exploration) is expected to grow 45-65% to $255M-290M, factoring in the company's hedges, natgas at $3.25 and oil at $95. (PR)

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