Goodrich grabs big stake in Tuscaloosa formation

by: Travis Arceneaux at 8/6/2013 3:30:06 PM | Viewed 1717 times.

Goodrich Petroleum Corp. has acquired a major stake in 277,000 acres in the Tuscaloosa Marine Shale, with plans to step up drilling activity in the area.

Goodrich acquired Devon Energy Corp.’s two-thirds share of the 277,000 leased acres in the Tuscaloosa for $26.7 million. The deal lifts Houston-based Goodrich’s holdings to 320,000 acres in the Tuscaloosa and makes the company the largest player in the formation.

Goodrich President and Chief Operating Office Robert Turnham Jr. said Tuesday that the company will spend $50 million this year drilling wells in the Tuscaloosa, but plans to kick up its activity on the newly acquired acreage.

 

To read the complete article on The Advocate website, click  here

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