Goodrich Petroleum Corp. said Monday that the Securities and Exchange Commission has completed its investigation related to its Haynesville Shale gas wells and reserves without recommending any enforcement action.
The Houston-based oil and gas producer originally received fact-finding subpoenas from the SEC and New York attorney general in July 2011 as part of an inquiry into whether they gave investors an accurate picture of the profitability of the natural gas wells. The Haynesville Shale spans Louisiana and eastern Texas.
Goodrich said Monday that it remains confident that its disclosures relating to its Haynesville Shale wells and reserves meet all applicable legal requirements.
Goodrich shares finished at $13.62 on Friday. They are down 34 percent from a 52-week high of $20.67 in mid-March.