Goodrich Petroleum Announces East Texas Asset Sale

Goodrich Petroleum Announces East Texas Asset Sale

Goodrich Petroleum Corporation (NYSE American: GDP) (the “Company”) today announced an asset sale, operational update and fourth quarter and year-end 2017 financial results.

East Texas Asset Sale Enhances Liquidity

The Company announced that it has closed on the sale of certain production, facilities, infrastructure and a portion of its acreage in the Angelina River Trend to BP America Production Company.

The Company will use a portion of the proceeds from the sale to pay off its revolver with plans to accelerate development of its North Louisiana Haynesville asset in the second half of 2018.

SOURCE:  http://goodrichpetroleum.investorroom.com/2018-03-01-Goodrich-Petroleum-Announces-East-Texas-Asset-Sale-Operational-Update-and-Fourth-Quarter-and-Year-End-2017-Financial-Results-and-Operational-Update

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