Goodrich Petroleum Announces Second Quarter 2018 Financial Results, Recent Developments and an Operational Update
Goodrich Petroleum Corporation (GDP)
Last goodrich petroleum corporation earnings: 3/5 06:00 am
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US:NYSE Investor Relations:
goodrichpetroleum.investorroom.com
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Source: PR Newswire
HOUSTON, Aug. 7, 2018 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE American: GDP) (the "Company") today announced financial results, recent developments and an operational update for the second quarter ended June 30, 2018. QUARTER HIGHLIGHTS Production grew 67% over the previous year period and 66% sequentially to an average of 60,600 Mcfe per day. Since the end of the second quarter production has averaged 75,500 Mcfe per day and the Company expects to commence flowback on two additional Haynesville wells during the third quarter. The Company is maintaining its year-end exit rate of approximately 100,000 Mcfe per day; Adjusted EBITDA increased to $8.9 million and Discretionary Cash Flow ("DCF"), defined as net cash provided by operating activities before changes in working capital, increased to $9.2 million in the quarter. The quarter over quarter increase in Adjusted EBITDA and DCF was driven by significantly higher production volumes and the following per unit cash cost re
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