Replies to post #1 on Goodrich Petroleum Corp (GDPCW)

[eFinanceMarkets]

GDP Goodrich Petroleum (GDP -4%) plunges after reporting much larger than expected Q1 loss and revenue that also lagged analyst expectations.

GDP also reduced its FY 2018 production guidance to a new range of 65M-75M cfe/day vs. its previous outlook of 77M-83M cfe/day, citing completion delays, but maintains its 2018 exit rate forecast of 100K cfe/day

Q1 production averaged ~37K cfe/day vs. 26K cfe/day in the prior-year period, with natural gas outlook totaling 3B cf (89% of total production) vs. 1.8B cf (79% of total production) during the same quarter in 2017, helped by three operated Haynesville Shale Trend wells completed late in the quarter.

GDP also Q2 production so far has averaged 47K cfe/day (92% natural gas) prior to production additions from the Cason-Dickson wells, which the company expects will increase output to more than 70K cfe/day.