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Goodrich Petroleum slides on Tuscaloosa Marine Shale plug-up

  • Goodrich Petroleum (GDP -9%) shares slide after the company announces its Huff well in the Tuscaloosa Marine Shale was successfully fracture stimulated with 17 stages and has commenced flowback "at expected fluid rates."
  • However, the well became plugged up with frac-related debris which will need to be cleaned out prior to resuming flowback. The company will disclose completion results after Jan. 1 once flowback has resumed and peak rate is achieved. Goodrich has run through rough patches with the well previously, which may explain the sharp reaction.
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