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goodrich petroleum corp (GDP) Key Developments

Goodrich Petroleum Corp. Presents at Raymond James & Associates 36th Annual Institutional Investors Conference, Mar-02-2015 01:05 PM

Goodrich Petroleum Corp. Presents at Raymond James & Associates 36th Annual Institutional Investors Conference, Mar-02-2015 01:05 PM. Venue: JW Marriott Grande Lakes, 4040 Central Florida Parkway, Orlando, FL 32837, United States.

Goodrich Petroleum Corp. Announces Unaudited Financial Production Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Production and Capital Expenditure Guidance for the Year of 2015

Goodrich Petroleum Corp. announced unaudited financial results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported total revenues of $48.557 million against $50.565 million a year ago. Operating loss was $261.725 million against $8.122 million a year ago. Loss before income taxes was $225.827 million against $23.495 million a year ago. Net loss applicable to common stock was $233.257 million or $5.23 per diluted share against $30.926 million or $0.73 per diluted share a year ago. Adjusted net loss applicable to common stock was $21.089 million or $0.47 per diluted share against $23.931 million or $0.57 per diluted share a year ago. Net cash provided by operating was $26.563 million against $30.564 million a year ago. Adjusted EBITDAX was $41.717 million against $32.288 million a year ago. Adjusted operating loss was $6.132 million against $8.496 million a year ago. Net loss of $225.827 million compared to $23.495 million a year ago. For the year, the company reported total revenues of $208.553 million against $203.295 million a year ago. Operating loss was $354.820 million against $36.310 million a year ago. Loss before income taxes was $353.136 million against $95.186 million a year ago. Net loss applicable to common stock was $382.858 million or $8.62 per diluted share against $113.790 million or $2.99 per diluted share a year ago. Adjusted net loss applicable to common stock was $87.828 million or $1.98 per diluted share against $105.594 million or $2.77 per diluted share a year ago. Net cash provided by operating was $121.731 million against $71.405 million a year ago. Adjusted EBITDAX was $139.297 million against $125.517 million a year ago. Adjusted operating loss was $19.472 million against $40.096 million a year ago. Net loss of $353.136 million compared to $95.186 million a year ago. Production totaled 6.3 billion cubic feet equivalent in the quarter, or an average of 68,300 Mcfe (51% oil) per day, versus 7.4 Bcfe, or an average of 80,800 Mcfe (29% oil) per day in the prior year period. Oil production totaled 531,000 barrels of oil in the quarter, or an average of approximately 5,770 barrels per day, versus 364,000 barrels of oil, or an average of approximately 3,950 barrels per day, in the prior year period. Production for the year was 25.1 Bcfe, or an average of 68,900 Mcfe per day, versus 27.8 Bcfe, or an average of 76,100 Mcfe per day in the prior year period. Crude oil production for the year totaled 1.7 million barrels of oil, a 26% increase over 2013, and 15.0 Bcf of natural gas, or an average of 41,000 Mcf per day. The company anticipates producing between 4,800 to 5,200 Bbls per day of oil in 2015, which includes completion deferrals into the second half of 2015, and 23,000 - 26,000 Mcf per day of natural gas in 2015. For the year 2015, the company expects to spend capital budget of approximately $100 million.

Goodrich Petroleum Corp. to Report Q4, 2014 Results on Feb 27, 2015

Goodrich Petroleum Corp. announced that they will report Q4, 2014 results at 9:00 AM, Eastern Standard Time on Feb 27, 2015

Goodrich Petroleum Corp., Q4 2014 Earnings Call, Feb 27, 2015

Goodrich Petroleum Corp., Q4 2014 Earnings Call, Feb 27, 2015

Goodrich Petroleum Revised Preliminary Capital Expenditure Budget for 2015

Goodrich Petroleum Corp. based on current commodity prices, the company revised its preliminary capital expenditure budget for 2015 to $90 – 110 million, comprised of $80 – 100 million of drilling and completion capital expenditures and approximately $10 million of leasehold and infrastructure expenditures. The company will monitor capital expenditures on a quarterly basis and maintain flexibility to accelerate capital expenditures with improvement in oil prices and the monetization of certain assets.

 

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