The board of directors of Goodrich Petroleum Corp. declared a quarterly cash dividend of $0.45139 per depositary share, on its 10.00% Series C Cumulative Preferred Stock. Dividends are accumulative from April 10, 2013. The dividend will be payable on June 17, 2013 to stockholders of record as of June 3, 2013.

The board of directors of Goodrich Petroleum Corp. declared a quarterly cash dividend of $0.6719 per share on its 5.375% Series B Cumulative Convertible Preferred Stock. The dividend will be paid on June 17, 2013 to stockholders of record as of June 3, 2013.

Goodrich Petroleum Corp. announced unaudited earnings and production results for the first quarter ended March 31, 2013. For the quarter, total revenue was an increase of $1.8 million or 4% to $47,084,000 compared to $45,308,000 a year ago. Operating loss was $13,142,000 compared to $14,241,000 a year ago. Loss before income taxes and net income was $28,463,000 compared to $17,729,000 a year ago. Net loss applicable to common stock was $29,975,000 or $0.82 basic and diluted per share compared to $19,241,000 or $0.53 basic and diluted per share year ago. Adjusted net loss applicable to common stock was $27,714,000 or $0.76 basic and diluted per share compared to $10,111,000 or $0.28 basic and diluted per share year ago. Adjusted EBITDAX was $27,050,000 compared to $40,357,000 a year ago. Net cash provided by operating activities was $6,272,000 compared to $30,537,000 a year ago. Adjusted revenue was $47,236,000 compared to $61,201,000 a year ago. Capital expenditures were $48.3 million, of which $46.0 million was spent on drilling and completion costs and $2.3 million on leasehold acquisition, facilities and other expenditures. Adjusted operating loss was $12,990,000 compared to adjusted operating income of $1,652,000 a year ago. Production for the quarter was 6.0 billion cubic feet equivalent, or an average of 66,600 Mcfe per day, versus 8.8 Bcfe, or an average of 96,300 Mcfe per day in the prior year period. Oil production for the quarter totaled 308,000 barrels of oil, or an average of 3,423 barrels per day, versus 217,000 barrels of oil, or 2,400 barrels per day, in the prior year period. Natural gas production for the quarter totaled 4.1 Bcf, or an average of 46,000 Mcf per day. Oil and gas production for the quarter was negatively impacted by approximately 300 barrels of oil and 4,000 Mcf per day due to completion delays and the necessity to shut in wells while fracing pad-drilled and/or offset wells in both the Eagle Ford and Haynesville Shale areas. Despite the shut-ins for the quarter, the company reaffirms full year guidance of annual oil production volume growth of 40-60% and natural gas production volume growth of 10% from fourth quarter of 2012 to fourth quarter of 2013, as completions will accelerate at a faster pace than in the first quarter. Total production on an Mcfe basis is expected to be relatively flat year-over-year. The company expects oil volumes to represent about 30% to 35% of total production and 65% to 70% of revenue for 2013. CapEx guidance range to be $175 million to $200 million.