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PS - Goodrich to grow output & free cash flow on 35% lower capex - January 2020
Goodrich Petroleum laid out a 2020 operating plan that will see lower capex, higher production and free cash flow generation. The company plans to spend $55-65 million, which is down 35% compared to the midpoint of 2019 guidance. At natural gas and oil prices of $2.50/Mcf and $55.00/bbl, respectively, Goodrich expects to generate $15-25 million of free cash flow. The company anticipates growing 2020 output 12.5-17.5% to an average of 145-153 MMcfe/d (99% gas).......
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