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Management PresentationTuohy Brothers 11th Annual “Drill, Chill, & Re-Fill” Conference

August, 2020

NYSE American: GDP

This presentation has been prepared by Goodrich Petroleum Corporation (the “Company”) solely for information purposes and may include "forward-

looking statements" within the meaning of the U.S. Private Litigation Securities Reform Act of 1995. The Company, its respective employees, directors,

officers or advisors, does not make any representation or warranty as to the accuracy or completeness of the information contained in the presentation

materials. The Company shall have no liability for this presentation, information contained herein, or any representations (expressed or implied),

whether the communications were oral or written. The statements, other than statements of historical facts, included in this presentation that address

activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements.

These statements include, but are not limited to forward-looking statements about acquisitions, divestitures, trades, potential strategic alliances, the

availability of capital, the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company, including the

Company's drilling program, production, hedging activities, capital expenditure levels and other guidance that may be included in this presentation.

These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends,

current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of

assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from

those implied or expressed by the forward-looking statements. These include risks relating to the Company's financial performance and results,

availability of sufficient cash flow to execute its business plan, prices and demand for oil, natural gas and natural gas liquids, the ability to replace

reserves and efficiently develop current reserves, the ability to access the capital markets and finance operations, including capital expenditures, and

other important factors that could cause actual results to differ materially from those projected as described in this presentation and the Company's

reports filed with the Securities and Exchange Commission. See "Risk Factors" in the Company's Annual Report on Form 10-K, Quarterly Reports on

Form 10-Q and other public filings and press releases.

Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or

update any forward-looking statement, whether as a result of new information, future events or otherwise.

August, 2020 2

Environmental:◦ Total Gas Flared: (% of Production) ~0◦ Total GHG Emissions: (2019) (000 Mt) (EPA,LDEQ,MDEQ,TECQ Compliant) 27◦ Total Water Use (2019 - MMBls): 5.1 ◦ OSHA Compliant

Social:◦ Number of Employees: 51◦ Percentage of Employees Unionized: 0%◦ Percentage of Women in the Workforce: 51% ◦ Percentage of Minorities in the Workforce: 20%

Governance:◦ Size of Board: 8◦ Independent Directors: 6◦ Percentage of Independent Directors: 75%◦ Board Duration: 1 Year◦ Number of Board Meetings: 10◦ Board Meeting Attendance: 100%

August, 2020 3

18 Year Inventory of Core Locations (77% Operated) at Current Pace

Acreage is Held By Production and Fully De-Risked >1.0 Tcf of Natural Gas Resource Potential in North

Louisiana

Production: 137,000 Mcfe/day (1Q20), 32% YOY Growth Low Finding/Development and Lifting Cost Generating

Competitive Rates of Return 2.5 Bcf Per 1,000 Feet of Lateral Low LOE ($0.05/Mcf) and No Sev Tax on New Wells

Return on Capital Employed (“ROCE”) – 12.5% (TTM EBIT/(Assets – Current Liabilities)

1Q20 Adjusted EBITDA of $16.6 Million. EBITDA Margin of Approximately 58%*

Top Tier Capital Efficiency Low Leverage (Net Debt to EBITDA (TTM) – 1.3X) Low Multiple (EV/EBITDA ~ 2.50X)

TUSCALOOSA MARINE SHALE:Gross (Net) Acres (1Q20): 47,700 (33,200)Proved Reserves (YE19 – SEC) 7 BcfeObjectives: Tuscaloosa Marine Shale

EAGLE FORD SHALE:Net Acres (1Q20): 4,300Proved Reserves (YE19 – SEC) 0Objectives: Eagle Ford Shale, Pearsall Shale & Buda Lime

HAYNESVILLE / BOSSIER SHALEANGELINA RIVER TREND (“ART”)Gross (Net) Acres (4Q18): 7,000 (3,000)Proved Reserves (YE18 - SEC) Objective: Haynesville & Bossier Shale

HAYNESVILLE SHALE - COREGross (Net) Acres (1Q20): 40,300 (22,300)Proved Reserves (YE19 - SEC) 510 BcfeObjective: Haynesville Shale

HAYNESVILLE PURE PLAY OPPORTUNITY

STRONG HAYNESVILLE RESULTS

COMPANY RETURNS AND BALANCE SHEET

Texas

Mississippi

August, 2020 4

* EBITDA Margin defined as EBITDA divided by Revenues adjusted for settled derivatives

5

55

303

428

480517

0

100

200

300

400

500

600

2015 2016 2017 2018* 2019

ETX TMS NLA - Haynesville Total

SEC PV10 of $297 Million

YE19 Proved Reserves by Area (Bcfe, %)

YE19 Proved Reserves by Category (Bcfe, %)

SEC Proved Reserves (Bcfe) YE19 Proved Reserves by Commodity

August, 2020

PUD-372 (72%)

PDP-145

(28%)

HS – 511 (99%)

TMS-6 (1%)

NaturalGas – 511

(99%)

Oil - 6(1%)

6

Net Debt to EBITDA of 1.3X based on TTM EBITDA of $80.3 million

Target of Less than 1.5X

Capitalization

$ in millions 3/31/20

Cash and Cash Equivalents $1.3

Senior Credit Facility (Borrowing Base) 92.9

2L Senior Secured Notes 13.4

Total Debt $106.3

Total Stockholders' Equity 88.5

Total Book Capitalization $194.8

Credit Statistics

TTM 3/31/20 Adjusted EBITDA $80.3

Net Debt / Adjusted TTM EBITDA 1.3x

Net Debt to Total Capitalization 53.9%

Borrowing Base $120.0

August, 2020

August, 2020

- 20,000 40,000 60,000 80,000

100,000 120,000 140,000 160,000

2016 2017 2018 2019 2020*

Mcfe/Day

Mcfe/Day

7* Mid-Point of Guidance

8

Period Natural Gas Volumes (Mcf/d)

Swap Volumes(Mcf/d)

Collar Volumes(Mcf/d) Swap Price Collar Prices

1Q20 70,000 70,000 0 $2.87

2Q20 70,000 47,000 23,000 $2.54 $2.40 - $2.62

3Q20 70,000 45,000 25,000 $2.56 $2.40 - $2.62

4Q20 70,000 45,000 25,000 $2.59 $2.40 - $2.62

1Q21 70,000 43,000 27,000 $2.64 $2.40 - $2.62

2Q21 50,000 50,000 0 $2.47

3Q21 50,000 50,000 0 $2.48

4Q21 50,000 50,000 0 $2.45

1Q22 50,000 50,000 0 $2.45

Period Oil Volumes (Bo/d)

Swap Volumes(Bo/d)

Collar Volumes(Boe/d) Swap Price

1Q20 250 250 0 $60.44

2Q20 225 225 0 $59.41

3Q20 210 210 0 $58.36

4Q20 200 200 0 $57.51

1Q21 200 200 0 $56.58

August, 2020

9

Volumes and Cost Guidance 2020E

Production

Annual Net Production (Bcfe): 50 – 52

Avg. Daily Production – Midpoint (MMcfe/d): 140

Percent Natural Gas: 99%

Capital Expenditures (MM)

Total Capital Expenditures $40 - $50

Price Realization

Henry Hub Differential $0.15 – $0.25

Unit Cost (Per Mcfe)

LOE: $0.20 - $0.25

Taxes: $0.04 – $0.07

Transportation: $0.30 - $0.40

G&A (Cash): $0.24 - $0.30

Development Schedule 2020E

Activity

Gross (Net) Wells: 12 (5.0)

Avg. Net Lateral Length: ~8,500’

Percentage Operated (Net): 72%

Net Capital Allocation

Bethany-Longstreet 91%

Thorn Lake 9%

Quarterly Completion Cadence

1Q20 5 Gross (1.8 Net)




Total 12 Gross (5.0 Net)

August, 2020

-10

-5

0

5

10

15

20

GDP

August, 2020Peer Group Includes: AMPY,APA,AR,BCEI,BRY,CDEV,CHK,CLR,COG,CPE,CRK,CXO,DNR,DVN,EOG,EQT,ESTE,FANG,GDP,GPOR,HPR,KOS,LONE,LPI,MGY,MR,MTDR,MUR,NBL,OAS,OVV,PDCE,PE,PVAC,PXD,QEP,REI,RRC,SBOW,SD,SM,SWN,TALO,WLL,WPX,XEC,XOG Source: Bloomberg, Company (1Q20 Financials)

10

0

1

2

3

4

5

6

GDP

August, 2020

Peer Group Includes: AMPY,APA,AR,BCEI,BRY,CDEV,CHK,CLR,COG,CPE,CRK,CXO,DNR,DVN,EOG,EQT,ESTE,FANG,GDP,GPOR,HPR,KOS,LONE,LPI,MGY,MR,MTDR,MUR,NBL,OAS,OVV,PDCE,PE,PVAC,PXD,QEP,REI,RRC,SBOW,SD,SM,SWN,TALO,WLL,WPX,XEC,XOG Source: Bloomberg, Company (1Q20 Financials)

11

0

2

4

6

8

10

12

GDP

August, 2020Peer Group Includes: AMPY,APA,AR,BCEI,BRY,CDEV,CHK,CLR,COG,CPE,CRK,CXO,DNR,DVN,EOG,EQT,ESTE,FANG,GDP,GPOR,HPR,KOS,LONE,LPI,MGY,MR,MTDR,MUR,NBL,OAS,OVV,PDCE,PE,PVAC,PXD,QEP,REI,RRC,SBOW,SD,SM,SWN,TALO,WLL,WPX,XEC,XOG Source: Bloomberg, Company (1Q20 Financials)

12

GDP 22,300 Net Acres

Pay Zones

} 100 – 300 feet

August, 2020 13

August, 2020 14

Haynesville - Core

Total Gross/Net Acres: ~34,300/19,300

Average WI/NRI: ~59%/43%

Acreage HBP: 100%

117 total producing wells (32 Operated)

1/1/20 – Inventory of 208 gross (91 net) potential locations on 880’ spacing providing 15+ year inventory

Operator for Approximately 73% of the NLA core position

CHK Joint Venture on most of the remaining 27% of NLA Core Acreage

Recent Acreage Swaps Adding to Operated and Long Lateral Acreage

Continuing to Look For Bolt-On Opportunities

Shelby Trough/Angelina River Trend (ART)

Haynesville and Bossier Shales:

Total Gross/Net Acres: ~6,000/ 3,000

Average WI/NRI: ~40% / 30%

TOTAL HAYNESVILLE SHALE

~22,300 net Ac

ART3,000 Net

Ac

NORTH LOUISIANA CORE

AREA19,300 Net Ac

Rig Source: Ulterra Bits

Haynesville Completion Evolution

August, 2020 15

• 4,600‘ Laterals• 1,000 lbs/ft Proppant• Hybrid Fluid • 300-450’ Frac Intervals• Cluster Spacing 50-70’

• 10,000’ Laterals• 5,000+ lbs/ft Proppant• Slick Water & Hybrid Fluid• <100’ Frac Intervals• Cluster Spacing 20 - 50’

• 4,600 - 10,000’ Laterals• 3,000 – 4,000 lbs/ft Proppant• Slick Water Fluid• 100 - 150’ Frac Intervals• Cluster Spacing 20 - 30’

Original Design Tested Current Design

Evolving completions maximize near-wellbore stimulation

Haynesville – Recent Industry Activity

August, 2020 16

(8) CHKROTC 1 & 2

10,000’ LateralsIP: 72,000 Mcf/d

19 Bcf in 19 months

(11) GDP-Wurtsbaugh25-24 #2&3

7,500’ LateralsIP: 25,000 Mcf/dIP: 29,000 Mcf/d

(10) GDP Wurtsbaugh 264,600’ Lateral

IP: 22,000 Mcf/d

(9) GDPMSR - Hunt 5H-1

4,600’ LateralIP: 17,000 Mcf/d

(22) CHK Black 1H

IP: 44,000 Mcf/d10,000’ Lateral

(21) VineHA RA SU74;L L

Golson 3 - 003-ALTIP: 18,800 Mcf/d

4,661’ Lateral

5. CHKGEPH Unit


4. CRKHUNTER 28-21HC 1&2 IP: 27,000 Mcf/d each

9,200’ Laterals

(13) GDPFranks 25&24 #1IP: 30,000 Mcf/d

9,600’ Lateral

(12) GDPWurtsbaugh 25-24 #1


(19) GDPCason-Dickson #1&2

IP: 31 MMcf/d, IP: 23 MMcf/d

8,000 & 3,000’ Laterals

3. CRKFLORSHEIM 9-16 HC #1&2 10,000’ Laterals

IP: 26,500 Mcf/dIP: 27,600 Mcf/d

(20) GDPCason-Dickson 23&24

#3&4IP: 62,000 Mcf/d9,300’ Laterals

(18) GDPHarris 14&23 #1IP: 27,500 Mcf/d

6,100’ Lateral

(14) GDPLoftus 27&22 #1 & 2

26,000 Mcfe/d25,000 Mcfe/d 7,500’ Laterals

(15) GDPDemmon 34H #1

22,500 Mcf/d4,600’ Lateral

(16) GDPWurtsbaugh 35H #1


(7) CRKCook 21-28 HC #2


3,798#/ft

(6) CRKCook 21-28 HC #1


3,803#/ft

(2) CRKNissen 28-21HC #2


3,801#/ft

(1) CRKNissen 28-21HC #1


3,796#/ft

(17) Covey ParkTucker 31-6C H1IP 18,045 Mcf/d

7,466’ Lateral

12

34

567

8

9

10-16

1718-20

21

22

(22) GDPMelody Jones 20H-1


22

(23) CRKGates 26-35 #1 & #2

10,000’ LateralsIP: 24,600 Mcf/dIP: 23,700 Mcf/d

23

August, 202017

August, 2020 18

August, 2020 19

August, 2020 20

Assumptions Louisiana

EUR 12.6 Bcf (2.7 Bcf/1,000’)

Sales Gas BTU Price Adjustment

1.020

Pricing Differentials/Transportation

Average - NYMEX less $0.15 / MMBtuTransportation: $0.30 / Mcf

Fixed Opex Fixed Opex: $3,290 / month

Variable Opex $0.07 / Mcf

Severance Tax Payout or 24 month tax holiday;thereafter $0.12 / Mcf

Ad Val Tax $0.03 / Mcf

Royalty Burden 27.0%

D&C Capex $7.0 MM

Facilities/Tubing Capex $0.381 MM, included in D&C Capex

Spud to 1st Sale 60 Days

PV10 (M$)($2.75/Mcf Pricing) $7,047 (Post Capex)

Economic EUR’s vary depending on gas price assumptions.

100

1,000

10,000

100,000

0 20 40 60 80 100 120

Avg

Dai

ly P

rodu

ctio

n (M

cfpd

)

Months

4,600' Lateral Type Curve

4,600' Lateral

EUR Capex(Mmcfe) ($M)

90% 100% 110% 90% 100% 110%2.00 25.0% 37.8% 52.6% 2.00 53.0% 37.8% 27.0%2.25 43.3% 61.3% 81.9% 2.25 82.8% 61.3% 45.9%2.50 65.0% 89.2% 117.1% 2.50 118.5% 89.2% 68.3%2.75 90.5% 122.1% 158.9% 2.75 161.0% 122.1% 94.6%3.00 120.0% 160.6% 208.4% 3.00 211.4% 160.6% 125.1%

Ownership: WI 100% - NRI 73%Pricing: Flat PricingAFE: Two well pad.

IRR Sensitivity Analysis Estimates (IRR Sensitivity to EURs and Capex) IRRs Incoporate Early Time Outperformance

Gas P

rice

Gas P

rice

August, 2020 21


EUR 21 Bcf (2.8 Bcf/1,000’)

Sales Gas BTU Price Adjustment

1.020


Average - NYMEX less $0.15 / MMBtuTransportation - $0.30 / Mcf






D&C Capex $8.7 MM



PV10 (M$)($2.75/Mcf Pricing)

$13,453 (Post Capex)

Economic EUR’s vary depending on gas price assumptions.

100

1,000

10,000

100,000

0 20 40 60 80 100 120

Avg

Dai

ly P

rodu

ctio

n (M

cfpd

)

Months


7,500' Lateral


90% 100% 110% 90% 100% 110%2.00 47.8% 65.5% 85.7% 2.00 86.8% 65.5% 49.6%2.25 72.8% 97.5% 125.9% 2.25 127.7% 97.5% 75.0%2.50 102.6% 135.9% 174.8% 2.50 177.5% 135.9% 105.4%2.75 137.8% 181.9% 233.9% 2.75 237.7% 181.9% 141.3%3.00 179.0% 236.3% 304.9% 3.00 310.1% 236.3% 183.3%


IRR Sensitivity Analysis Estimates (IRR Sensitivity to EURs and Capex) IRRs Incoporate Early Time Outperformance

Gas

Pric

e

Gas

Pric

e

22


EUR 25 Bcf (2.5 Bcf/1,000’)

Sales Gas BTUPrice Adjustment 1.020


Average - NYMEX less $0.15 / MMBtuTransportation: $0.30 / Mcf






D&C Capex $10.7 MM



PV10 (M$)($2.75/Mcf Pricing) $15,226 (Post Capex)

100

1,000

10,000

100,000

0 20 40 60 80 100 120

Avg

Dai

ly P

rodu

ctio

n (M

cfpd

)

Months


10,000' Lateral


90% 100% 110% 90% 100% 110%2.00 27.7% 39.9% 53.9% 2.00 54.5% 39.9% 29.4%2.25 47.8% 65.7% 86.1% 2.25 87.3% 65.7% 50.1%2.50 72.3% 97.1% 125.6% 2.50 127.4% 97.1% 75.4%2.75 101.6% 134.7% 173.2% 2.75 175.8% 134.7% 105.5%3.00 135.8% 179.2% 179.2% 3.00 233.5% 179.2% 140.9%


IRR Sensitivity Analysis (IRR Sensitivity to EURs and Capex) IRRs Incoporate Early Time Outperformance

Gas

Pric

e

Gas

Pric

e

Economic EUR’s vary depending on gas price assumptions

August, 2020

Cash Flow Generation With Strong Balance Sheet and Low Trading Multiple Creates an Attractive Entry Point for the Stock

16 Year Inventory on Core Haynesville Position Provides 1+ Tcfof Resource Potential on Acreage Held By Production

A Continued Reduction in Per Unit Cash Costs Driven By High Volume Low Lifting Costs Wells

Optionality on 2020 Capital Plans Expected to Deliver Additional Growth and Free Cash

August, 2020 23

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