Goodrich Petroleum Corporation Valuation Report, July 2010 - Strategic and Operational Analysis

Report Summary

Goodrich Petroleum Corporation (Goodrich) is an independent oil and gas company engaged in the exploration, exploitation, development and production of oil and natural gas properties primarily in East Texas and Northwest Louisiana area, which includes the Haynesville Shale, and South Texas, which includes the Eagle Ford Shale.

Scope

• Investment Thesis: This section highlights the companies new ventures, liquidity issues, assets analysis, hedging, new projects details, capex funding, geographical results of oil and gas operations, and other related analysis.
• Goals and Strategies: Provide highlights on their existing and upcoming challenges with the possible strategies.
• SWOT: This section highlights the companies internal strength, weakness, opportunities and threats to better understand their position in the market
• Production and Development profile: This section highlights the companies’ forecasted crude oil and natural gas production from their existing and upcoming assets. It also covers the detailed information and analysis on the producing and development assets.
• Exploration and M&A trends: This section includes exploration assets information resulted due to new discoveries, new drilling and other activities. Additionally, M&A section highlights the companies’ recent assets transactions, joint ventures, acquisition, and divestment activities during the specified period.
• Financial Forecast and Valuation: This section highlights the detailed financial forecast of the companies for coming five years. This section also provides intrinsic value of the companies’ by using different valuation techniques.
• Peer Group: This section compares peer group performance with the main companies on the basis of share prices, financial ratios, operational and financial parameters and other related activities.

Reasons to buy

• The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to:
• Provide detailed analysis to those who are interested in knowing the companies’ existing and future business strategies.
• Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
• Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
• Use the analysis for strategy and planning, M&A identifications, and competitor analysis.

1 Table of contents 3

1.1 List of Tables 6
1.2 List of Figures 8

2 Goodrich Petroleum Corporation, Company Overview 11

3 Goodrich Petroleum Corporation, Watchlist for 2010 14

4 Goodrich Petroleum Corporation, Investment Summary 15
4.1 Active Development Activities in the Haynesville Shale will Strengthen the Production Portfolio of the Company 15
4.2 Goodrich’s Entry in The Eagle Ford Shale to Supplement its Unconventional Opertations and Increase its Oil Operations 17
4.3 Maintaining an Active Hedge Portfolio to Secure Shareholders Value 19
4.4 Strong Liquidity Position; Providing Strength to Support its Future Capital Expenditure Requirement 20

5 Goodrich Petroleuim Corporation, SWOT Analysis 23
5.1 Strengths 23
5.1.1 Shift in Strategy Led to Higher Reserves and Lower per Unit Drilling Costs 23
5.1.2 Strong Operational Performance; Enhanced Production and Reserves Profile 23
5.2 Weaknesses 23
5.2.1 Declining Reserve/Production (RP) Ratio 23
5.2.2 Undiversified Commodity Mix 23
5.3 Opportunities 24
5.3.1 Highly Prospective Eagle Ford Shale 24
5.3.2 Deployment of Advanced Technologies to Strengthen its Portfolio 24
5.4 Threats 24
5.4.1 Over Hedging May Hinder the Company’s Growth during a High Commodity Price Scenario 24

6 Goodrich Petroleum Corporation, Goals and Strategies 25
6.1 Goodrich Focused on Reducing its Operating Cost 25
6.2 Exploiting Mature Assets and Adding Reserves Through the Drill Bit 27

7 Goodrich Petroleum Corporation, Production Overview 28
7.1 Production Profile 28
7.2 Asset Portfolio 30
7.2.1 The Haynesville Shale 30
7.3 Costs Incurred 31

8 Goodrich Petroleum Corporation, Exploration and Development Overview 32
8.1 The Haynesville Shale 32
8.2 The Cotton Valley Taylor Sand 33

9 Goodrich Petroleum Corporation, M&A Highlights 35

10 Goodrich Petroleum Corporation, Forecast Production and Financial Statements 36
10.1 Balance Sheet (2007–2014) 39
10.2 Cash Flow Statement (2007–2014) 40
10.3 Financial Ratios 41

11 Goodrich Petroleum Corporation, Valuation 43
11.1 Net Asset Value 43

12 Goodrich Petroleum Corporation, Peer Comparision 47
12.1 Share Price Performance 47
12.2 Operational and Financial Performance 48
12.3 Key Financial and Operational Ratio 51

13 Goodrich Petroleum Corporation, Key Risks 52
13.1 Political Instability 52
13.2 Fluctuating Crude Oil and Natural Gas Prices 52
13.3 Reserves and Drilling operations 52
13.4 Competition 52

14 Goodrich Petroleum Corporation, Detailed Financial and Operational Metrics 53
14.1 Goodrich Petroleum Corporation, Quarterly Results of Oil & Gas Operations per boe Produced 53
14.1.1 Results of Oil & Gas Operations Per boe Produced, Q2, 2009-Q2, 2010 53
14.1.2 Results of Oil & Gas Operations per boe Growth Rates, Q2, 2009-Q2, 2010 54
14.2 Goodrich Petroleum Corporation, Quarterly E&P Costs Trends 55
14.2.1 Upstream Capital Expenditure, Q2, 2009-Q2, 2010 55
14.3 Goodrich Petroleum Corporation, Total Oil and Gas Production 56
14.3.1 Total Crude Oil and Natural Gas Production Trend, Q2, 2009-Q2, 2010 56
14.3.2 Total Crude Oil & Natural Gas Production, By Country/Region, Q2, 2009-Q2, 2010 57
14.4 Goodrich Petroleum Corporation, Crude Oil Production 58
14.4.1 Total Crude Oil Production Trend, Q2, 2009-Q2, 2010 58
14.4.2 Crude Oil Production, By Country/Region, Q2, 2009-Q2, 2010 59
14.5 Goodrich Petroleum Corporation, Natural Gas Production 60
14.5.1 Total Natural Gas Production Trend, Q2, 2009-Q2, 2010 60
14.5.2 Natural Gas Production, By Country/Region, Q2, 2009-Q2, 2010 61
14.5.3 Share Price Performance, 2004–2009 62
14.5.4 Key Valuation Metrics, 2004–2009 63
14.6 Total Oil and Gas, Reserves and Production 64
14.6.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2004–2009 64
14.6.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2004–2009 66
14.6.3 Total Crude Oil and Natural Gas Reserve Changes, 2004–2009 68
14.7 Crude Oil/Liquids Production and Reserves 69
14.7.1 Crude Oil/Liquids Production and Reserve Trend, 2004–2009 69
14.7.2 Crude Oil Production and Reserves By Country/Region, 2004–2009 70
14.7.3 Crude Oil/Liquids Reserve Changes, 2004–2009 72
14.8 Natural Gas Production and Reserves 73
14.8.1 Natural Gas Production and Reserve Trend, 2004–2009 73
14.8.2 Natural Gas Production and Reserves, By Country/Region, 2004–2009 74
14.8.3 Natural Gas Reserve Changes, 2004–2009 76
14.9 Total Crude Oil and Natural Gas Reserves Life Index 77
14.9.1 Total Crude Oil and Natural Gas Reserves Life Index, 2004–2009 77
14.9.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2004–2009 78
14.10 Allocation of Upstream Capital Expenditure 80
14.10.1 Upstream Capital Expenditure, 2004–2009 80
14.10.2 Acquisition Costs By Country/Region, 2004–2009 81
14.10.3 Exploration and Development Costs, By Country/Region, 2004–2009 83
14.11 Oil and Gas Costs Per boe, $/boe 85
14.11.1 Oil and Gas Costs Per boe, $/boe, 2004–2009 85
14.11.2 Oil and Gas Costs Per boe, $/boe, By Country/Region, 2004–2009 87
14.12 Oil and Gas Production Replacement Ratio 90
14.12.1 Oil and Gas Production Replacement Ratio, 2004–2009 90
14.12.2 Oil and Gas Production Replacement Ratio, By Country/Region, 2004–2009 93
14.13 Oil and Gas Revenue and Expenses 97
14.13.1 Oil and Gas Revenue and Expenses, 2004–2009 97
14.13.2 Oil and Gas Revenue and Expenses, By Country/Region, 2004–2009 98
14.14 Oil and Gas Revenue and Expenses, Per boe 102
14.14.1 Oil and Gas Revenue and Expenses, By boe, 2004–2009 102
14.14.2 Oil and Gas Revenue and Expenses per boe, By Country/Region, 2004–2009 103
14.15 Oil and Gas Performance Metrics 107
14.16 Developed and Undeveloped Acreage 108
14.16.1 Gross and Net Developed and Undeveloped Acreage, 2004–2009 108
14.16.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2004–2009 109
14.17 Well Statistics 112
14.17.1 Producible Oil and Gas Wells, 2004–2009 112
14.17.2 Producible Oil and Gas Wells, By Country/Region, 2004–2009 113
14.17.3 Exploration and Development Wells Drilled, 2004–2009 118
14.17.4 Exploration and Development Wells Drilled, By Country/Region, 2004–2009 120
14.17.5 Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 2004–2009 122
14.17.6 Developed Reserves per Well, By Country/Region, 2004–2009 123

15 Appendix 125
15.1 Methodology 125
15.1.1 Coverage 125
15.1.2 Secondary Research 125
15.1.3 Primary Research 125
15.2 Data Sources 126
15.2.1 Company Source 126
15.2.2 SEC/Other Regulatory Filings 126
15.2.3 Agency Reports 126
15.2.4 Other Sources 126
15.3 Expert Panel Validation 126
15.4 Definitions 126
15.5 Units of Measure 127
15.6 About GlobalData 127
15.7 Disclosure 128
15.8 Disclaimer 128

1.1 List of Tables

Table 1: The Haynesville Shale, Initial Production Comparison, 2010 16
Table 2: The Eagle Ford Shale, Initial Production from Oil Window, 2010 18
Table 3: Goodrich Petroleum Corporation, Recent Transactions As A Buyer, 2008–2009 35
Table 4: Goodrich Petroleum Corporation, Forecast Production, 2007–2014 36
Table 5: GlobalData, Price deck Forecast, 2010–2014 36
Table 6: Goodrich Petroleum Corporation, Income Statement ($m), 2007–2014 38
Table 7: Goodrich Petroleum Corporation, Balance Sheet ($m), 2007–2014 39
Table 8: Goodrich Petroleum Corporation, Cash Flow Statement ($m), 2007–2014 40
Table 9: Goodrich Petroleum Corporation, Profitability Ratios, 2007–2014 41
Table 10: Goodrich Petroleum Corporation, Other Financial Ratios, 2007–2014 42
Table 11: GlobalData, Crude Oil and Natural Gas Price Forecast, 2010–2014 43
Table 12: Goodrich Petroleum Corporation, Net Asset Value, 2010 44
Table 13: Goodrich Petroleum Corporation, Prospective Acreage & Non Proven Reserves, 2010 44
Table 14: Goodrich Petroleum Corporation, NPV Per Unit Natural Gas, $/Mcf, 2010 44
Table 15: Goodrich Petroleum Corporation, NPV Per Unit Crude Oil & NGL, $/bbl, 2010 45
Table 16: Goodrich Petroleum Corporation, NPV Per Unit Total Production, $/boe, 2010 45
Table 17: Goodrich Petroleum Corporation, Sensitivity Analysis on Fair Value ($/share), 2010 46
Table 18: Goodrich Petroleum Corporation Vs. Peer Group, Operational and Financial Performance, 2009 48
Table 19: Goodrich Petroleum Corporation and its Peer Group Comparison, Financial Ratios, 2009 51
Table 20: Goodrich Petroleum Corporation, Results of Oil & Gas Operations Per boe Produced, $/boe, Q2, 2009-Q2, 2010 53
Table 21: Goodrich Petroleum Corporation, Results of Oil & Gas Operations per boe Growth Rates, %, Q2, 2009-Q2, 2010 54
Table 22: Goodrich Petroleum Corporation, Upstream Capital Expenditure, Q2, 2009-Q2, 2010 55
Table 23: Goodrich Petroleum Corporation, Total Crude Oil and Natural Gas, Production, Q2, 2009-Q2, 2010 56
Table 24: Goodrich Petroleum Corporation, Total Oil & Gas Production, By Country/Region, MMboe, Q2, 2009-Q2, 2010 57
Table 25: Goodrich Petroleum Corporation, Total Crude Oil Production, MMbbl, Q2, 2009-Q2, 2010 58
Table 26: Goodrich Petroleum Corporation, Crude Oil Production, By Country/Region, MMbbl, Q2, 2009-Q2, 2010 59
Table 27: Goodrich Petroleum Corporation, Total Natural Gas Production, Bcf, Q2, 2009-Q2, 2010 60
Table 28: Goodrich Petroleum Corporation, Natural Gas Production, By Country/Region, Bcf, Q2, 2009-Q2, 2010 61
Table 29: Goodrich Petroleum Corporation, Share Price Performance, 2004–2009 62
Table 30: Goodrich Petroleum Corporation, Key Valuation Metrics, 2004–2009 63
Table 31: Goodrich Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2004–2009 65
Table 32: Goodrich Petroleum Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, MMboe, 2004–2009 67
Table 33: Goodrich Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2004–2009 68
Table 34: Goodrich Petroleum Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 2004–2009 69
Table 35: Goodrich Petroleum Corporation, Crude Oil Production and Reserves, By Country/Region, MMbbl, 2004–2009 71
Table 36: Goodrich Petroleum Corporation, Crude Oil Reserve Changes, MMbbl, 2004–2009 72
Table 37: Goodrich Petroleum Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2004–2009 73
Table 38: Goodrich Petroleum Corporation, Natural Gas Production and Reserves, By Country/Region, Bcf, 2004–2009 75
Table 39: Goodrich Petroleum Corporation, Natural Gas Reserve Changes, Bcf, 2004–2009 76
Table 40: Goodrich Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 2004–2009 77
Table 41: Goodrich Petroleum Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2004–2009 79
Table 42: Goodrich Petroleum Corporation, Upstream Capital Expenditure, $m, 2004–2009 80
Table 43: Goodrich Petroleum Corporation, Proved and Unproved Acquisition Costs, By Country/Region, $m, 2004–2009 82
Table 44: Goodrich Petroleum Corporation, Exploration and Development Costs, By Country/Region, $m, 2004–2009 84
Table 45: Goodrich Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Costs and Proved Acquisition Costs Per boe, $/boe, 2004–2009 86
Table 46: Goodrich Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Costs and Proved Acquisition Costs Per boe, $/boe, By Country/Region, 2004–2009 89
Table 47: Goodrich Petroleum Corporation, Oil and Gas Production Replacement Ratio, %, 2004–2009 91
Table 48: Goodrich Petroleum Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2004–2009 96
Table 49: Goodrich Petroleum Corporation, Revenue and Expenses, $m, 2004–2009 97
Table 50: Goodrich Petroleum Corporation, Revenue and Expenses, By Country/Region, $m, 2004–2009 101
Table 51: Goodrich Petroleum Corporation, Oil and Gas Revenue and Expenses, $/boe, 2004–2009 102
Table 52: Goodrich Petroleum Corporation, Oil and Gas Revenue and Expenses, $/boe, By Country/Region, 2004–2009 106
Table 53: Goodrich Petroleum Corporation, Oil and Gas Performance Metrics, 2004–2009 107
Table 54: Goodrich Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2004–2009 108
Table 55: Goodrich Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2004–2009 111
Table 56: Goodrich Petroleum Corporation, Producible Oil and Gas Wells, 2004–2009 112
Table 57: Goodrich Petroleum Corporation, Producible Oil and Gas Wells, By Country/Region, 2004–2009 116
Table 58: Goodrich Petroleum Corporation, Exploratory and Developed Wells, 2004–2009 119
Table 59: Goodrich Petroleum Corporation, Exploratory and Developed Wells, By Country/Region, 2004–2009 120
Table 60: Goodrich Petroleum Corporation, Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 2004–2009 122
Table 61: Goodrich Petroleum Corporation, Developed Reserves per Well, By Country/Region, Mboe per Well, 2004–2009 124

1.2 List of Figures

Figure 1: Goodrich Petroleum Corporation, The US Operations Map, 2010 11
Figure 2: Goodrich Petroleum Corporation, Financial & Operational Overview, 2006–2009 12
Figure 3: Goodrich Petroleum Corporation, Share Price Movement, April 2009–April 2010 13
Figure 4: Goodrich Petroleum Corporation, The Haynesville Shale, 2010 15
Figure 5: Goodrich Petroleum Corporation, Eagle Ford Shale, 2010 17
Figure 6: Goodrich Petroleum Corporation, Production Hedge, Peer Comparison, 2009 19
Figure 7: Goodrich Petroleum Corporation, Liquidity Ratios Comparison With Its Peer Group, 2009 21
Figure 8: Goodrich Petroleum Corporation and Peer Group, Revolving Credit Facility, 2009 22
Figure 9: Goodrich Petroleum Corporation, Lifting Cost Per Boe Analysis With Peer Average, $/boe, 2006–2009 25
Figure 10: Goodrich Petroleum Corporation and Peer Group Comparison, Lifting Cost Per Boe, $/boe, 2009 26
Figure 11: Goodrich Petroleum Corporation, Comparison of Reserve Addition Through Drill Bit With Total Reserve Additions, 2009 27
Figure 12: Goodrich Petroleum Corporation, Total Production, MMboe, 2008–2014 28
Figure 13: Goodrich Petroleum Corporation, Total Production By Type, MMboe, 2008–2014 29
Figure 14: Goodrich Petroleum Corporation, The Haynesville Shale Asset Portfolio, 2010 30
Figure 15: Goodrich Petroleum Corporation, Total Cost Incurred, MMboe, 2004–2009 31
Figure 16: Goodrich Petroleum Corporation, The Haynesville Shale Acreage Position, 2010 32
Figure 17: Goodrich Petroleum Corporation, Comparison of Exploration Cost and Reserve Addition Through Drill bit, 2005–2009 33
Figure 18: Goodrich Petroleum Corporation, Comparison of Acquisition Costs and Reserve Additions Through Acquisition, 2005–2009 34
Figure 19: Goodrich Petroleum Corporation and Peer Group, Relative Share Price Performance, 2008–2010 47
Figure 20: Goodrich Petroleum Corporation, F&D costs and Reserve Replacement Ratio, 2009 49
Figure 21: Goodrich Petroleum Corporation, Operational and Financial Parameters in $/boe, 2009 49
Figure 22: Goodrich Petroleum Corporation, Total Reserves and Production, MMboe, 2009 50
Figure 23: Goodrich Petroleum Corporation, Results of Oil & Gas Operations Per boe Produced, $/boe, Q2, 2009-Q2, 2010 53
Figure 24: Goodrich Petroleum Corporation, Upstream Capital Expenditure, $m, Q2, 2009-Q2, 2010 55
Figure 25: Goodrich Petroleum Corporation, Total Crude Oil and Natural Gas, Production, MMboe, Q2, 2009-Q2, 2010 56
Figure 26: Goodrich Petroleum Corporation, Total Oil & Gas Production, By Country/Region, MMboe, Q2, 2009-Q2, 2010 57
Figure 27: Goodrich Petroleum Corporation, Total Crude Oil Production, MMbbl, Q2, 2009-Q2, 2010 58
Figure 28: Goodrich Petroleum Corporation, Crude Oil Production, By Country/Region, MMbbl, Q2, 2009-Q2, 2010 59
Figure 29: Goodrich Petroleum Corporation, Total Natural Gas Production, Bcf, Q2, 2009-Q2, 2010 60
Figure 30: Goodrich Petroleum Corporation, Natural Gas Production, By Country/Region, Bcf, Q2, 2009-Q2, 2010 61
Figure 31: Goodrich Petroleum Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), 2004–2009 63
Figure 32: Goodrich Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2004–2009 64
Figure 33: Goodrich Petroleum Corporation, Total Proved Oil & Gas Reserves, By Country/Region, MMboe, 2004–2009 66
Figure 34: Goodrich Petroleum Corporation, Total Oil & Gas Production, By Country/Region, MMboe, 2004–2009 66
Figure 35: Goodrich Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2009 68
Figure 36: Goodrich Petroleum Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 2004–2009 69
Figure 37: Goodrich Petroleum Corporation, Total Proved Oil Reserves, By Country/Region, MMbbl, 2004–2009 70
Figure 38: Goodrich Petroleum Corporation, Oil Production, By Country/Region, MMbbl, 2004–2009 70
Figure 39: Goodrich Petroleum Corporation, Crude Oil Reserve Changes, MMbbl, 2009 72
Figure 40: Goodrich Petroleum Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2004–2009 73
Figure 41: Goodrich Petroleum Corporation, Total Proved Gas Reserves, By Country/Region, Bcf, 2004–2009 74
Figure 42: Goodrich Petroleum Corporation, Gas Production, By Country/Region, Bcf, 2004–2009 74
Figure 43: Goodrich Petroleum Corporation, Natural Gas Reserve Changes, Bcf, 2009 76
Figure 44: Goodrich Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 2004–2009 77
Figure 45: Goodrich Petroleum Corporation, Gas Reserve Life Index, By Country/Region, Years, 2004–2009 78
Figure 46: Goodrich Petroleum Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2004–2009 78
Figure 47: Goodrich Petroleum Corporation, Oil Reserve Life Index, By Country/Region, Years, 2004–2009 79
Figure 48: Goodrich Petroleum Corporation, Upstream Capital Expenditure, $m, 2004–2009 80
Figure 49: Goodrich Petroleum Corporation, Proved Acquisition Costs, By Country/Region, $m, 2004–2009 81
Figure 50: Goodrich Petroleum Corporation, Unproved Acquisition Costs, By Country/Region, $m, 2004–2009 81
Figure 51: Goodrich Petroleum Corporation, Development Costs, By Country/Region, $m, 2004–2009 83
Figure 52: Goodrich Petroleum Corporation, Exploration Costs, By Country/Region, $m, 2004–2009 83
Figure 53: Goodrich Petroleum Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2004–2009 85
Figure 54: Goodrich Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas Finding & Development Costs per boe, By Country/Region, $/boe, 2004–2009 87
Figure 55: Goodrich Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas Finding Costs per boe, By Country/Region, $/boe, 2004–2009 87
Figure 56: Goodrich Petroleum Corporation, 3-Year Wt. Avg. Reserve Replacement Costs per boe, By Country/Region, $/boe, 2004–2009 88
Figure 57: Goodrich Petroleum Corporation, 3-Year Wt. Avg. Proved Acquisition Costs per boe, By Country/Region, $/boe, 2004–2009 88
Figure 58: Goodrich Petroleum Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2004–2009 90
Figure 59: Goodrich Petroleum Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2004–2009 93
Figure 60: Goodrich Petroleum Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2004–2009 93
Figure 61: Goodrich Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2004–2009 94
Figure 62: Goodrich Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2004–2009 94
Figure 63: Goodrich Petroleum Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2004–2009 95
Figure 64: Goodrich Petroleum Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2004–2009 95
Figure 65: Goodrich Petroleum Corporation, Revenue and Expenses, $m, 2004–2009 97
Figure 66: Goodrich Petroleum Corporation, Depreciation, Depletion & Amortization , By Country/Region, $m, 2004–2009 98
Figure 67: Goodrich Petroleum Corporation, Exploration Expenses, By Country/Region, $m, 2004–2009 98
Figure 68: Goodrich Petroleum Corporation, Net Income/ Loss, By Country/Region, $m, 2004–2009 99
Figure 69: Goodrich Petroleum Corporation, Oil & Gas Revenue, By Country/Region, $m, 2004–2009 99
Figure 70: Goodrich Petroleum Corporation, Pre-tax Profit, By Country/Region, $m, 2004–2009 100
Figure 71: Goodrich Petroleum Corporation, Production Expenses, By Country/Region, $m, 2004–2009 100
Figure 72: Goodrich Petroleum Corporation, Total Expenses, By Country/Region, $m, 2004–2009 101
Figure 73: Goodrich Petroleum Corporation, Oil and Gas Revenue and Expenses, $/boe, 2004–2009 102
Figure 74: Goodrich Petroleum Corporation, Exploration Expenses per boe, By Country/Region, $/boe, 2004–2009 103
Figure 75: Goodrich Petroleum Corporation, Lifting Cost per boe, By Country/Region, $/boe, 2004–2009 103
Figure 76: Goodrich Petroleum Corporation, Annual Net Income per boe, By Country/Region, $/boe, 2004–2009 104
Figure 77: Goodrich Petroleum Corporation, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2004–2009 104
Figure 78: Goodrich Petroleum Corporation, Total DD&A per boe, By Country/Region, $/boe, 2004–2009 105
Figure 79: Goodrich Petroleum Corporation, Total Revenue per boe, By Country/Region, $/boe, 2004–2009 105
Figure 80: Goodrich Petroleum Corporation, Oil and Gas Performance Metrics, 2004–2009 107
Figure 81: Goodrich Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2004–2009 108
Figure 82: Goodrich Petroleum Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2004–2009 109
Figure 83: Goodrich Petroleum Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2004–2009 109
Figure 84: Goodrich Petroleum Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2004–2009 110
Figure 85: Goodrich Petroleum Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2004–2009 110
Figure 86: Goodrich Petroleum Corporation, Producible Oil and Gas Wells, 2004–2009 112
Figure 87: Goodrich Petroleum Corporation, Gross Producible Gas Wells, By Country/Region, Number, 2004–2009 113
Figure 88: Goodrich Petroleum Corporation, Gross Producible Oil & Gas Wells, By Country/Region, Number, 2004–2009 113
Figure 89: Goodrich Petroleum Corporation, Gross Producible Oil Wells, By Country/Region, Number, 2004–2009 114
Figure 90: Goodrich Petroleum Corporation, Net Oil & Gas Wells as % of Gross Oil & Gas Wells, By Country/Region, %, 2004–2009 114
Figure 91: Goodrich Petroleum Corporation, Net Producible Gas Wells, By Country/Region, Number, 2004–2009 115
Figure 92: Goodrich Petroleum Corporation, Net Producible Oil & Gas Wells, By Country/Region, Number, 2004–2009 115
Figure 93: Goodrich Petroleum Corporation, Net Producible Oil Wells, By Country/Region, Number, 2004–2009 116
Figure 94: Goodrich Petroleum Corporation, Exploratory and Developed Wells, 2004–2009 118
Figure 95: Goodrich Petroleum Corporation, Developed Gas Reserves per Well (MMcf per Well), By Country/Region, 2004–2009 123
Figure 96: Goodrich Petroleum Corporation, Developed Oil & Gas Reserves per Well (Mboe per Well), By Country/Region, 2004–2009 123
Figure 97: Goodrich Petroleum Corporation, Developed Oil Reserves per Well (Mbbls per Well), By Country/Region, 2004–2009 124