Tuesday, Goodrich Petroleum Corp. (GDP) announced adding to its existing hedge position by executing a zero cost collar on 10,000 MMBtu per day for a three year period including all of 2010, 2011, and 2012. Under the terms of this transaction, the company has put in place a floor of $6.00 per MMBtu and a ceiling of $7.40 per MMBtu.
The company's total 2010 volumes hedged is now 20,000 MMBtu per day at a floor price of $6.00 and an average ceiling price of $7.275. These hedges are in addition to the hedges in place for the remainder of 2009 of 60,000 MMBtu per day at an average swap and floor price of $8.61. Additionally, the company has hedged a portion of its East Texas basis exposure at $0.47 per MMBtu on 60,000 MMBtu per day for the remainder of 2009, and at $0.37 per MMBtu on 50,000 MMBtu per day for calendar year 2010.
The Company also realized gains on its commodity derivative portfolio for the just-completed third quarter of $27.6 million.
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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.