facebook
twitter
rss
account
search
search
 

Goodrich scores success in Mississippi shale

Company plans five more rigs for reserve area.
By Daniel J. Graeber   |   June 2, 2014 at 11:01 AM   |   Comments

HOUSTON, June 2 (UPI) -- Goodrich Petroleum Corp. said Monday it was declaring success with its latest hydraulic fracturing campaign in a shale basin in Mississippi.

The company said it reached an average production rate of 1,460 barrels of oil equivalent during a test of a well in the Tuscaloosa Marine shale in southwest Mississippi.

"The company is temporarily running four rigs as it is in the process of swapping out the oldest rig for a newer, more technologically advanced rig, with plans to go to as many as five rigs by the end of the year pending continued success," a Goodrich statement read.

Goodrich made similar claims with the portion of the shale play that sits in Louisiana in April.

Goodrich has more than 300,000 net acres spread out over the so-called Tuscaloosa marine shale reserve area, which the Louisiana Department of Natural Resources estimates contains approximately 7 billion barrels of oil.

Follow @dan_graeber and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
Market Basket workers hail victory with announced sale to Arthur T.
2
Iran vetting oil customers
3
New gear to be supplied to deploying Australian troops
4
U.S. Navy receives first low-rate production RAM Bock 2 missile
5
Brazil assessing capabilities of Russian air defense system
Trending News
Video
x
Feedback