Goodrich Petroleum Corp. (fka GDPMQ)

[VMB-1]

~Old Family Oil Money, This Will Climb Back UP: "We have taken the following steps in 2015 to mitigate the effects of lower crude oil prices on our operations:

1. Reduced our capital expenditures planned for 2015 thereby conserving capital.

2. Extended the maturity of our Senior Credit Facility to February 24, 2017.

3. Received proceeds of $100 million from the issuance of Second Lien Notes.

4. Received net proceeds of $47.5 million from the sale of 12,000,000 shares of our common stock to the public.

5. Reduced staff headcount by more than 30% from year-end 2014 levels thereby reducing expenses.

6. Closed the sale of proved reserves and a portion of the associated leasehold in the Eagle Ford Shale Trend in September 2015 for proceeds of $101.6 million, with an additional $14.4 million placed into escrow pending resolution of post-closing adjustments.  The proceeds were used to pay off Senior Credit Facility debt in early September.

7. In September and October 2015, we exchanged an aggregate of $72.1 million of our 5.0% Senior Convertible Notes due 2032 for $36.0 million of new 5.0% Senior Convertible Notes due 2032, thereby reducing future annual cash interest by $1.8 million.

8. In October 2015, we exchanged $158.2 million of our 8.875% Senior Notes due 2019 for $75.0 million of 8.875% Second Lien Notes due 2018, thereby reducing our future annual cash interest by $7.4 million.

9. Suspended all preferred stock dividend payments beginning in the third quarter of 2015 to conserve capital.

Additionally, we have all of our remaining projected 2015 oil and condensate sales volumes favorably hedged. See Note 6.

We have other resource options to enhance liquidity as well, such as selling non-core properties, entering into joint ventures in our core areas and/or further reducing our planned capital expenditures.

As a result of the steps we have taken to conserve capital and enhance our liquidity, we anticipate our cash on hand, cash from operations and our available borrowing capacity under our Senior Credit Facility will be sufficient to meet our investing, financing, and working capital requirements in 2016. We may be reliant on the availability of borrowings under our Senior Credit Facility to accomplish our operation and capital expenditure plan in 2016 and beyond.  A sustained drop from current commodity price levels will result in financial results that could violate a financial covenant despite the flexibility we have obtained under the revised debt covenants (See Note 3). This could prevent us from accessing our borrowings available under the Senior Credit Facility.

[hondaboost]

Oil, tumbled below $30. GDPM Loss: $150 Million in 2015.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10993664

Either file Bankruptcy or shut down, soon!

[VMB-1]

~NICE Entry Early..$GDPM Cheap Under- .10 ! Checked the Company Out Last Night

[Lone Wolf]

Today is another day!!

[VMB-1]

~INDEED! Traded Steady@10* All Day, after Initial Dip $$$$$

[snidely]

Nice. I'm glad we are in OTC now. Continual huge price swings to bank off.

[VMB-1]

Haha Maybe..BACK IN, Filled @073 Oopsss ; )

[snidely]

100,000 blocks all day at .10. Shorts covering?

[UP Trend]

Damn broker doesn't recognize symbol yet, missed grabbing at open

[VMB-1]

~These Delist's sure are Funnnn =D

[Pres46]

What the hell. I cant go anywhere without seeing the Wolf.

These are good plays and i am looking forward the next half dozen or so to fall from the NYSE to OTC.

Good luck

[Pres46]

Buy the dip! This should be below .07 before 10am.
Good luck to all

[nymostwanted]

We will see ..

[Lone Wolf]

Down much more before back up. The institutions will be unloading tomorrow.

[nymostwanted]

Thank you. Maybe it go up little more on OTC since less rules ...

[Renee]

The Preferred Shares were also delisted, FYI. You're quite welcome, and best o' luck.

[nymostwanted]

Thanks for the info...

[Renee]

GDP changed to GDPM. Delisted from the NYSE to the OTC.:

http://otce.finra.org/DLAdditions

[Richby30]

HALTED FOR NEWS. but where is the news? nothing came out yet and I see no SEC filings today

[legalizeMJ]

It's time to BUY GDP.$$$$$$$$$ GDP $$$$$$$$$$$$$$$$$

[legalizeMJ]

GDP= DIAMOND, SIR! GDP=UP. hahaha

$$$$$$$$ GDP $$$$$$$$$$$

[05gtoman]

Great insight value drrrrrrrr

[Value_Investor]

GDP = GARBAGE!

[stock1ace1]

***** Volume Just Broke Yesterday ****

[nymostwanted]

Hope for a .42 close

[stock1ace1]

Volume **

[stock1ace1]

Huge squeeze back to 1$ ??

[Lone Wolf]

What a nice short cover rally!

[stock1ace1]

Wow some big buys going through

[stock1ace1]

.31s up

[stock1ace1]

Dividend news + Oil is bouncing ;)

[MovedOn]

Good to see finally. Any ideas as to the leg up and high volume?

[stock1ace1]

Load for the monday gapper :}} Half Day Today !

[stock1ace1]

Broke .30s !!!

[stock1ace1]

.30s getting eating up :)

[Stockminder]

Series E Preferred Stock - Dividend Payment

HOUSTON, Dec. 21, 2015 /PRNewswire/ -- In connection with Goodrich Petroleum Corporation's (NYSE: GDP) (the "Company") recent tender offer and issuance of depositary shares, each representing a 1/1000th ownership interest in a share of the Company's new 10.00% Series E Cumulative Convertible Preferred Stock (the "Series E Preferred Stock"), the Company has arranged for the filing of Form 211 with the Financial Industry Regulatory Authority ("FINRA") to initiate the listing of the Series E Preferred Stock on the OTC Global Markets, Inc. (the "OTC"). After FINRA authorizes listing of the Series E Preferred Stock on the OTC, the Company will set a record date for the payment of the initial dividend on the Series E Preferred Stock within three days of the authorization date and dividend payment date within three days of the record date, which dividend will be paid in shares of the Company's common stock. In addition, according to the terms of the Series E Preferred Stock, it may be converted at any time into shares of the Company's common stock at a rate of 5.0 shares of the Company's common stock for each depositary share of Series E Preferred Stock. To convert the Series E Preferred Stock the holder should contact their broker or our transfer agent, American Stock Transfer & Trust Company LLC, at [phone].

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/series-e-preferred-stock--dividend-payment-300195588.html

SOURCE Goodrich Petroleum Corporation

[Stockminder]

Goodrich Petroleum Announces Final Results Of Preferred Stock Tender Offer

HOUSTON, Dec. 16, 2015 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE: GDP) (the "Company") today announced final results from its previously announced tender offer to exchange depositary shares of the Company's newly created 10.00% Series E Cumulative Convertible Preferred Stock (the "Series E Preferred Stock") for any and all issued and outstanding shares of the Company's 5.375% Series B Cumulative Convertible Preferred Stock ("Series B Preferred Stock"), up to 2,390,000 depositary shares of the Company's outstanding 10.00% Series C Cumulative Preferred Stock ("Series C Preferred Stock"), and up to 2,390,000 depositary shares of the Company's outstanding 9.75% Series D Cumulative Preferred Stock ("Series D Preferred Stock" and, together with the Series B Preferred Stock and the Series C Preferred Stock, the "Existing Preferred Stock").

Similar to the Series B Preferred Stock, the Company has applied to list the Series E Preferred Stock on the OTCQX Marketplace and expects the shares to be delivered and freely tradable upon closing, which is expected to occur on or about December 18, 2015. The Series E Preferred Stock will be immediately eligible for conversion into common stock of the Company per the terms of the Offer to Exchange dated November 6, 2015 (the "Offer to Exchange"). The common stock of the Company received upon conversion of the Series E Preferred Stock will be listed on the NYSE and will be freely tradable.

D.F. King & Co., Inc., the exchange agent and information agent for the exchange offers, has advised the Company that as of 5:00 p.m., New York City time on December 15, 2015, approximately 50% of the shares of Existing Preferred Stock eligible for exchange have tendered and been accepted by the Company, as follows:

758,434 shares of Series B Preferred Stock have been validly tendered and not properly withdrawn pursuant to the tender offer, representing approximately 33.7% of the Series B Preferred Stock offered for exchange;
1,274,932 depositary shares of Series C Preferred Stock have been validly tendered and not properly withdrawn pursuant to the tender offer, representing approximately 53.3% of the maximum 2,390,000 depositary shares offered for exchange; and
1,463,759 depositary shares of Series D Preferred Stock have been validly tendered and not properly withdrawn pursuant to the tender offer, representing approximately 61.3% of the maximum 2,390,000 depositary shares offered for exchange.

As a result of the exchanges, the Company has retired approximately $106.4 million of Existing Preferred Stock in exchange for approximately $36.5 million of Series E Preferred Stock.

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 Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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 for the year ended December 31, 2014 and other subsequent filings with the SEC. 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. Except as required by law, the Company expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.

Goodrich Petroleum is an independent oil and gas exploration and production company listed on the New York Stock Exchange.



To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/goodrich-petroleum-announces-final-results-of-preferred-stock-tender-offer-300193559.html

SOURCE Goodrich Petroleum Corporation

[legalizeMJ]

GDP, PVA are UP because Oil= UP.

BUY PVA(Oil stock) to PROFIT.

10/6 GOOD NEWS:PVA sold assets to repay debts.

http://finance.yahoo.com/news/penn-virginia-corporation-announces-sale-105500404.html

PVA REPAID its debts and Oil price is UP. Therfore, PVA is GOOD to go UP, UP, UP from this price.
PVA is GOOD to go UP, UP, AND UP from here.

PVA(Oil stock)= STRONG BUY $$$$$$$$$$$$$$$$$$

[George1234]

Reversal in progress, expecting 4x run...

[Raphael De La Ghetto]

Anyone have an updated Short number? Over the course of the past 2 months, 12 million have been shorted. Daily average volume has been less than a million. Gonna see a good rally in the near future. Doubtful it will return to $1 but an easy 2 bagger is fully possible. Oil is poison these days.....

Werd!!

[nymostwanted]

Great support here today., .50 back again soon..

[nymostwanted]

It won't so easily. Management cutting lots of cost and they have assets ..

[Lone Wolf]

Looks like its on a similar trajectory to MHRC. Printed a doji on the charts with heavy volume Thursday...now another red candle, so I suspect another leg down from here with heavy loading in the single-digit pennies.

FYI- have 'entry tickets' from a much higher pps, so not here to 'talk it down'...just what I think the charts are showing me. IMO, in the next two weeks, we'll see gold and oils start to rally. Tax loss selling is going to be done and geo-politics starting to get bad.

[gerber]

Does any one have any ideas on this exchange offer for the preferred??

[Ray-Ban]

Anyone think this is heading towards eventual bankruptcy?

[willlbone]

Down, down and away.

[GMONEY4]

On watch.

[Stockminder]

MW Goodrich Petroleum stock price target set at 20 cents at Stifel Nicolaus
Dec 01, 2015 08:00:00 (ET)

(END) Dow Jones Newswires

12-01-15 0800ET

[snidely]

Goodrich Petroleum Continued Listing Plan Accepted By NYSE

HOUSTON, Dec. 1, 2015 /PRNewswire/ -- Goodrich Petroleum Corporation (GDP) (the "Company") today announced receipt of notice that the New York Stock Exchange ("NYSE") has accepted the Company's plan for continued listing on the NYSE. The continued listing is subject to quarterly reviews by the NYSE's Listing and Compliance Committee to ensure the Company's progress toward its plan.

On August 27, 2015, the NYSE had notified the Company that it was below the NYSE continued listing criteria of (1) average global market capitalization or total stockholders' equity over a consecutive 30 trading-day period of at least $50,000,000; and (2) average closing price of its common stock of at least $1.00 over a consecutive 30 trading-day period. With the acceptance of the plan, the Company has 18 months from the original notification date in which to regain compliance with the market capitalization or stockholder's equity listing standard. The Company has six months from the original notification date in which to regain compliance with the $1.00 stock price listing standard.

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 Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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 for the year ended December 31, 2014 and other subsequent 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. Except as required by law, the Company expressly disclaims any intention or obligation to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.

Goodrich Petroleum is an independent oil and gas exploration and production company listed on the New York Stock Exchange.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/goodrich-petroleum-continued-listing-plan-accepted-by-nyse-300185752.html

[snidely]

Hopefully this moves back to the .80's