Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, December 10, 2014

Goodrich Petroleum to explore options for Eagle Ford assets, (NYSE: GDP)

Goodrich Petroleum Corp said it was exploring strategic options for all or a part of its Eagle Ford shale assets in South Texas to boost liquidity. The company also said it expects capital spending of $150 million-$200 million for 2015. For 2014, it had estimated spending to be at the lower end of $325 million-$375 million.

Goodrich Petroleum Corporation is an independent oil and natural gas company engaged in exploration, development and production of oil and natural gas on properties primarily in Northwest Louisiana, East Texas and South Texas. Shares of GDP traded higher by 38.18% or $1.13/share to $4.09. In the past year, the shares have traded as low as $2.96 and as high as $30.52. On average, 2794540 shares of GDP exchange hands on a given day and today's volume is recorded at 5708112.