Goodrich considers selling Eagle Ford assets

Goodrich Petroleum Corp., Houston, is considering the sale of at least some of its shale assets in the South Texas Eagle Ford, the company said, adding that it plans to concentrate next year on the Tuscaloosa marine shale.

The board authorized management to explore selling “all or a portion” of the Eagle Ford assets during the first half of 2015 to give Goodrich more flexibility to expand developments elsewhere.

Goodrich said it will focus most of its spending next year on the Tuscaloosa marine shale, where executives report costs are coming down as results continue to improve.

Goodrich outlined 2015 spending plans of $150-200 million compared with its 2014 budget of $325-375 million. Executives said 2014 actual spending likely will be at the lower end of that range.