Seeking Alpha

Goodrich Q2 earnings misses, but Tuscaloosa production rises

  • Goodrich Petroleum (GDP +10.1%) surges despite posting a larger than expected Q2 loss, as investors focus on positive results from the new Tuscaloosa Marine Shale play.
  • GDP's overall production in Q2 fell 7.5% to 6.2B cfe, but oil production rose 31% Y/Y and climbed 11% Q/Q to 381K barrels, or 4,200 bbl/day; current oil production is at 4.8K-5K bbl/day, and GDP has issued Q3 guidance of 4.8K-5.4K bbl/day.
  • GDP says it spent 70% of its Q2 total capital expenditures in the Tuscaloosa Marine.
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector