Goodrich Petroleum Corporation Announces 2017 Preliminary Capital Expenditure Budget

HOUSTON, Dec. 20, 2016

About Goodrich Petroleum Corporation

Goodrich Petroleum is an independent oil and gas exploration and production company headquartered in Houston, Texas, with assets in the Haynesville Shale, Eagle Ford Shale and Tuscaloosa Marine Shale. For more information, visit the Company's website at www.goodrichpetroleum.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release regarding future expectations and plans for future activities may be regarded as "forward-looking statements." Such forward-looking statements are subject to various risks, such as financial market conditions, changes in commodities prices and costs of drilling and completion, operating hazards, drilling risks, and the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas, as well as other risks discussed in detail in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 and other subsequent filings with the SEC. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

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