Goodrich Petroleum Announces Tuscaloosa Marine Shale Well Result

       Goodrich Petroleum Announces Tuscaloosa Marine Shale Well Result

PR Newswire

HOUSTON, Oct. 9, 2013

HOUSTON, Oct. 9, 2013 /PRNewswire/ --Goodrich Petroleum Corporation (NYSE:
GDP)today announced the completion of its CMR-Foster Creek 20-7H-1 (99% WI)
well in Wilkinson County, Mississippi. The well was successfully drilled with
a 6,200 foot lateral and fracture stimulated with 23 stages but encountered
completion issues while drilling out the frac plugs with coiled tubing
resulting in the loss of a bottom hole assembly and fishing tools in the well.
The Company replaced the coiled tubing unit with a workover rig in an attempt
to remove the downhole tools but fishing operations were un-successful. The
well was subsequently placed on production from the approximately 2,100 feet
of usable and unobstructed lateral.

The well has reached a 24-hour peak production rate of 527 barrels of oil
equivalent ("BOE") per day, comprised of 500 barrels of oil and 174 Mcf of gas
on a 16/64 inch choke from the 2,100 feet of lateral.

The Company is currently drilling the lateral of the Huff 18-7H-1 (97% WI)
well in Amite County, Mississippi, with plans to go to two rigs later this
month.

The Company currently has in excess of 300,000 net acres in the Tuscaloosa
Marine Shale.

OTHER INFORMATION

Initial production rates are subject to decline over time and should not be
regarded as reflective of sustained production levels. In particular,
production from horizontal drilling in shale gas resource plays and tight gas
plays that are stimulated with extensive pressure fracturing are typically
characterized by significant early declines in production rates.

Certain statements in this news release regarding future expectations and
plans for future activities may be regarded as "forward looking statements"
within the meaning of the Securities Litigation Reform Act. They are subject
to various risks, such as financial market conditions, changes in commodities
prices and costs of drilling and completion, operating hazards, drilling
risks, and the inherent uncertainties in interpreting engineering data
relating to underground accumulations of oil and gas, as well as other risks
discussed in detail in the Company's Annual Report on Form 10-K and other
filings with the Securities and Exchange Commission. Although the Company
believes that the expectations reflected in such forward-looking statements
are reasonable, it can give no assurance that such expectations will prove to
be correct.

Goodrich Petroleum is an independent oil and gas exploration and production
company listed on the New York Stock Exchange. The majority of its properties
are in Louisiana and Texas.

SOURCE Goodrich Petroleum Corporation

Website: http://www.goodrichpetroleum.com
Contact: Robert C. Turnham, Jr., President, or Jan L. Schott, Chief Financial
Officer, Main: (713) 780-9494, or Fax: (713) 780-9254
 
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