goodrich petroleum corporation - RR DONNELLEY FINANCIAL

GOODRICH PETROLEUM CORPORATION AND SUBSIDIARY
SUPPLEMENTAL INFORMATION
(Unaudited)
Costs Incurred
Costs incurred in oil and natural gas property acquisition, exploration and development activities, whether
capitalized or expensed, are summarized as follows (in thousands):
Year Ended December 31,
2011 2010 2009
Property Acquisition
Unproved ....................................... $ 22,698 $ 33,456 $ 15,264
Proved .......................................... — — 579
Exploration .......................................... 4,815 33,580 35,378
Development (1) ...................................... 304,215 218,342 193,130
$331,728 $285,378 $244,351
(1) Includes asset retirement costs of $2.1 million in 2011, $1.3 million in 2010 and $3.7 million in 2009.
The following table sets forth our net proved oil and natural gas reserves at December 31, 2011, 2010 and
2009 and the changes in net proved oil and natural gas reserves during such years:
Oil, Condensate and NGLs
Natural Gas (Mmcf)
(MBbls)
2011 2010 2009 2011 2010 2009
Proved reserves at beginning of period ............. 454,189 415,301 390,449 1,618 877 1,983
Revisions of previous estimates (1) ................ (27,206) 1,383 (264,928) (216) 88 (1,441)
Extensions, discoveries and improved recovery (2) .... 72,788 102,751 318,699 5,498 820 487
Purchases of minerals in place .................... — — — — — —
Sales of minerals in place ........................ (99) (32,431) (28) (2) (17) —
Production .................................... (36,167) (32,815) (28,891) (644) (150) (152)
Proved reserves at end of period .................. 463,505 454,189 415,301 6,254 1,618 877
Proved developed reserves:
Beginning of period ............................ 187,417 162,935 150,174 746 431 387
End of period ................................. 195,338 187,417 162,935 2,779 746 431
Natural Gas Equivalents (Mmcfe)
2011 2010 2009
Proved reserves at beginning of period .................................. 463,899 420,561 402,349
Revisions of previous estimates (1) .................................... (28,504) 1,916 (273,577)
Extensions, discoveries and improved recovery (2) ........................ 105,778 107,670 321,622
Purchases of minerals in place ........................................ — — —
Sales of minerals in place (3) ......................................... (116) (32,532) (28)
Production ........................................................ (40,029) (33,716) (29,805)
Proved reserves at end of period ....................................... 501,028 463,899 420,561
Proved developed reserves:
Beginning of period ................................................ 191,893 165,519 152,496
End of period ...................................................... 212,014 191,893 165,519
(1) Revisions of previous estimates in 2009 were negative due primarily to significant pricing decreases which
caused a number of our vertical proved undeveloped locations in Northwest Louisiana and East Texas areas
to become uneconomic at those lower price levels.
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