Goodrich Petroleum Corp. announced an acquisition on Sept. 1 that adds to the Houston-based independent E&P company’s position in the core of the Haynesville Shale basin.

According to a company release, Goodrich acquired eight producing wells and approximately 5,800 gross (4,500 net) acres in the core of the Haynesville Shale basin in Louisiana’s Caddo and Bossier parishes. The wells are producing approximately 2 MMcfe/d.

The company said it agreed to acquire the assets for $1.5 million plus the obligation to drill eight wells over a four-year period. The seller was not disclosed.

Following the acquisition announcement, Goodrich said it now has approximately 32,000 net acres in the core of the Haynesville Shale play.

During Goodrich’s earnings call in early August, CEO Walter G. Goodrich said the company was looking to add to its Haynesville Shale position as it was nearing 2 Tcf of natural gas resource potential in the core of the play in northwest Louisiana.

“We remain focused on further expanding our footprint through selective transactions, which increase our development inventory, do not negatively impact our balance sheet or reduce our free cash flow objectives,” he said.

Onshore