Goodrich Petroleum Announces Emergence From Bankruptcy

Goodrich Petroleum Corporation (the "Company") today announced that it has satisfied the conditions precedent to the effectiveness of its First Amended Joint Chapter 11 Plan of Reorganization (the "Plan of Reorganization"), which was confirmed by the United States Bankruptcy Court for the Southern District of Texas on September 28, 2016, and has emerged from bankruptcy. By working constructively with its creditors and other stakeholders, the Company emerged from bankruptcy with the same assets and having substantially reduced its total long-term debt and cost structure, which provides the post-emergence Company with a significantly improved capital structure to maximize the value of its asset portfolio.