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Goodrich Petroleum's (GDP) CEO Gil Goodrich on Q2 2018 Results - Earnings Call Transcript

Aug. 07, 2018 5:12 PM ETGoodrich Petroleum Corporation (GDP)
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Goodrich Petroleum Corp. (NYSE:GDP) Q2 2018 Earnings Conference Call August 7, 2018 11:00 AM ET


Gil Goodrich – Chief Executive Officer

Rob Turnham – Chief Operating Officer


Neal Dingmann – SunTrust

Joe Allman – Baird

John White – Roth Capital

David Snow – Energy Equities


Good day and welcome to the Goodrich Petroleum Second Quarter 2018 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there'll be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Mr. Gil Goodrich, CEO. Sir, please go ahead.

Gil Goodrich

Good morning, everyone. Thank you for joining us this morning, and we are pleased to have a chance to share with you our second quarter results and also provide you an update on recent activity. We’ve again prepared a slide presentation in conjunction with the call this morning. And we invite you to follow the slide deck during our prepared remarks.

You can access the slide presentation on the Goodrich Petroleum website entitled Earnings Call Slides Second Quarter 2018. Our standard disclaimer, forward-looking statements and risk factors are highlighted for you on Slide 2.

During the second quarter, we achieved excellent acceleration of both production and cash flow, which has continued into the third quarter and positioned us well to achieve our stated goals and guidance for 2018. I'll begin with a few highlights from the second quarter and an update on recent activity, which you will find on Slide 3.

We continued a robust development pace in the Haynesville with second quarter capital expenditures of approximately $31 million, and we remain on track for full year capital expenditures within the previously given guidance range of $85 million to $95 million, all of which will

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