This Could Send Goodrich Petroleum Stock Even Higher
Is it possible that after a volatile move higher in shares of Goodrich Petroleum Corp (NYSE: GDP ) since February that it could head even higher and potentially significantly so? The oil exploration and production company has recently announced drilling results in the Tuscaloosa Marine Shale, or TMS, that had gotten progressively better until the last well after some initially disappointing outcomes.
In reality, the recent decline from $30 only has the stock back to levels barely above the highs of 2013 while the production results suggest the company could sit on some very oily acres. Comparing the recent valuation to some other players in liquids-rich areas such as Gulfport Energy Corp (NASDAQ: GPOR ) and Halcon Resources (NYSE: HK ) makes the stock worth a longer look.
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