- IRS official refuses to answer questions at scandal hearing |
- Global stocks, oil fall after Bernanke; dollar gains |
- Oklahoma tornado victims astounded at how they survived |
- CORRECTED-White House threatens veto of bill to bypass Obama on Keystone
- British soldier hacked to death in suspected Islamist attack
Goodrich Petroleum says SEC investigation seeks no action
Sept 24 |
Sept 24 (Reuters) - Goodrich Petroleum Corp said the Securities and Exchange Commission (SEC) completed an investigation into its disclosures on wells and reserves in the Haynesville shale field and that no action had been recommended.
The oil and gas company received a fact-finding subpoena from the New York attorney general and the SEC in July 2011 requesting information on the natural gas wells and reserves in the Haynesville region, which spans Louisiana and Texas.
New production techniques such as hydraulic fracturing, where sand, water and chemicals are blasted into wells to extract oil and gas, have sent output soaring in the last decade. Such techniques have, however, come under fire in the recent past for contaminating water bodies, leading to more regulatory oversight.
Goodrich Petroleum shares closed at $13.62 on the New York Stock Exchange on Friday.
- Tweet this
- Share this
- Digg this