Goodrich Petroleum Corp. (GDP) announced that its third-quarter net loss applicable to common stock was $31.0 million or $0.87 per share, compared to net income of $184.8 million or $4.47 per share for the third quarter of 2008, as the prior year period included both a $145.9 million gain on sale of undeveloped leasehold rights in North Louisiana and an $83.5 million gain on derivatives not designated as hedges.
Total revenues for the quarter, which do not include realized gains of $27.6 million on natural gas derivatives not designated as hedges, was $23.5 million, compared to $60.4 million for the prior year period.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.17 per share on revenues of $52.10 million for the quarter. Analysts' estimates typically exclude special items.
The Company currently expects drilling and completion capital expenditures of $35.0 - $40.0 million and net daily production volumes to average between 82,000 and 85,000 Mcfe per day for the fourth quarter of 2009.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.