Goodrich Adds Acreage in Tuscaloosa Play

- Goodrich Adds Acreage in Tuscaloosa Play

Monday, June 13, 2011
Goodrich Petroleum Corp.

Goodrich has purchased leases totaling approximately 74,000 net acres in the Tuscaloosa Marine Shale oil trend in Louisiana and Mississippi. The Company paid approximately $13 million, or an average of $175 per net acre for the acreage.

The Company anticipates development to commence in the first quarter of 2012.

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Goodrich Tops Q1 Earnings Estimates, Raises 2011 Guidance

Goodrich Tops Q1 Earnings Estimates, Raises 2011 Guidance



Apr 21, 2011

Goodrich Corporation (NYSE:GR) reported Q1 EPS of $1.52 today, beating the consensus estimate for $1.25 per share. Revenue for the quarter was up 12% year-over-year to $1.90 billion, just above the consensus estimate for $1.87 billion.

The company raised its 2011 EPS outlook to $5.40 - $5.55 from $5.30 - $5.45, compared to the consensus estimate for a $5.49 per share profit.

Commenting on the company's performance and its outlook, Marshall Larsen, Chairman, President and Chief Executive Officer said, "We were very pleased with our first quarter results. We saw excellent growth in all of our major market channels, which we expect will continue through the balance of 2011. Our commercial aftermarket sales growth of 12 percent was significantly greater than the growth in airline capacity and slightly higher than our expectations, and helped solidify our view that 2011 will be a strong growth year for this market channel, despite high oil prices and the tragic events in Japan."