e424b3
 

Filed pursuant to Rule 424(b)(3)
Registration No. 333-141862
Prospectus Supplement No. 1
(To Prospectus Dated August 20, 2007)
$175,000,000
(GOODRICH PETROLEUM CORPORATION LOGO)
3.25% Convertible Senior Notes due 2026
and up to 3,122,263 Common Shares
Issuable Upon Exchange of the Notes
 
     This document supplements the prospectus dated August 20, 2007, relating to the offering for resale of our 3.25% Convertible Senior Notes due 2026 (the “notes”) and the shares of our common stock, par value $0.20 per share (the “common stock”), issuable upon conversion of the notes. The information in this prospectus supplement replaces and supercedes the information set forth under the heading “Selling Security Holders” in the prospectus dated August 20, 2007.
     We are a Delaware corporation. Our principal offices are located at 808 Travis Street, Suite 1320, Houston, Texas 77002, and our telephone number is (713) 780-9494.
     Our common stock is listed on the New York Stock Exchange under the symbol “GDP.” The last reported sale price of our common stock on the New York Stock Exchange on December 17, 2007 was $23.67 per share.
Investing in the notes involves risks. See “Risk Factors,” beginning on page 7 of the prospectus.
     Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.
The date of this prospectus supplement is December 18, 2007.

 


 

SELLING SECURITY HOLDERS
     We initially issued and sold a total of $175,000,000 aggregate principal amount of the notes in private placements to certain initial purchasers on December 6, 2006 and December 8, 2006. The initial purchasers have advised us that they resold the notes in transactions exempt from the registration requirements of the Securities Act of 1933, as amended, to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in compliance with Rule 144A. The selling security holders, which term includes their transferees, pledgees, donees and successors, may from time to time offer and sell pursuant to this prospectus any and all of the notes and the Shares of common stock issuable upon exchange of the notes.
     The notes and the shares of common stock to be issued upon exchange of the notes are being registered pursuant to a registration rights agreement between us and the initial purchasers. In that agreement, we undertook to file a registration statement with regard to the notes and the shares of common stock issuable upon exchange of the notes and, subject to certain exceptions, to keep that registration statement effective until the date there are no longer any registrable securities. See “Registration Rights.” The registration statement to which this prospectus relates is intended to satisfy our obligations under that agreement.
     The selling security holders named below have advised us that they currently intend to sell the notes and the shares of common stock set forth below pursuant to this prospectus. Additional selling security holders may choose to sell notes and the shares of common stock from time to time upon notice to us. None of the selling security holders named below has, within the past three years, held any position, office or other material relationship with us or any of our predecessors or affiliates.
     Unless the securities were purchased pursuant to this registration statement, before a security holder not named below may use this prospectus in connection with an offering of securities, this prospectus will be amended or supplemented to include the name and amount of notes and common shares beneficially owned by the selling security holder and the amount of notes and common shares to be offered. Any amended or supplemented prospectus will also disclose whether any selling security holder selling in connection with that amended or supplemented prospectus has held any position, office or other material relationship with us or any of our predecessors or affiliates during the three years prior to the date of the amended or supplemented prospectus.
     The following table is based solely on information provided by the selling security holders. This information represents the most current information provided to us by selling security holders.
                                                   
                              Number of       Number of
                              Shares of   Number of   Shares of
    Amount of   Percentage             Common   Shares of   Common Stock
    Notes   of Notes     Amount of   Stock   Common Stock   Upon
    Beneficially   Beneficially     Notes to Be   Beneficially   That May Be   Completion of
    Owned ($)   Owned     Sold ()(1)   Owned(2)(3)   Sold(1)(3)   Offering(1)
ACE Tempest Reinsurance Ltd. (4)
  $ 245,000       *       $ 245,000       4,371       4,371        
Advent Convertible ARB Master (20)
  $ 3,703,000       2.12 %     $ 3,703,000       66,067       66,067        
Advent Enhanced Phoenix (20)
  $ 4,000,000       2.29 %     $ 4,000,000       71,366       71,366        
Alabama Children’s Hospital Foundation (5)
  $ 25,000       *       $ 25,000       446       446        
Alcon Laboratories (20)
  $ 348,000       *       $ 348,000       6,209       6,209        
Aristeia International
Limited (6)
  $ 6,925,000       3.96 %     $ 6,925,000       123,552       123,552        
Aristeia Partners LP (6)
  $ 1,075,000       *       $ 1,075,000       19,180       19,180        
Arkansas Pers (5)
  $ 590,000       *       $ 590,000       10,526       10,526        
Arlington County Employees Retirement System (20)
  $ 499,000       *       $ 499,000       8,903       8,903        

1


 

                                                   
                              Number of       Number of
                              Shares of   Number of   Shares of
    Amount of   Percentage             Common   Shares of   Common Stock
    Notes   of Notes     Amount of   Stock   Common Stock   Upon
    Beneficially   Beneficially     Notes to Be   Beneficially   That May Be   Completion of
    Owned ($)   Owned     Sold ()(1)   Owned(2)(3)   Sold(1)(3)   Offering(1)
Bear Stearns & Co. Inc. (7)
  $ 30,060,000       17.18 %     $ 30,060,000       536,315       536,315        
Boilermakers Blacksmith Pension Trust (5)
  $ 1,100,000       *       $ 1,100,000       19,626       19,626        
British Virgin Islands Social Security Board (20)
  $ 115,000       *       $ 115,000       2,052       2,052        
Chrysler Corporation Master Retirement
Trust (4)
  $ 1,105,000       *       $ 1,105,000       19,715       19,715        
City University of
New York (20)
  $ 100,000       *       $ 100,000       1,784       1,784        
CNH CA Master Account, L.P. (8)
  $ 4,000,000       2.29 %     $ 4,000,000       71,366       71,366        
Cowen and Company LLC (24)
  $ 94,000       *       $ 94,000       1,677       1,677        
Delaware Public Employees Retirement System (4)
  $ 625,000       *       $ 625,000       11,151       11,151        
Delta Airlines Master Trust — CV (4)
  $ 190,000       *       $ 190,000       3,390       3,390        
Delta Airlines Master
Trust (5)
  $ 235,000       *       $ 235,000       4,193       4,193        
Delta Pilots Disability & Survivorship Trust —
CV (4)
  $ 135,000       *       $ 135,000       2,409       2,409        
Deutsche Bank Securities (23)
  $ 5,889,900       3.37 %     $ 5,889,900       105,085       105,085        
F. M. Kirby Foundation,
Inc. (4)
  $ 195,000       *       $ 195,000       3,479       3,479        
Florida Power and
Light (20)
  $ 645,000       *       $ 645,000       11,508       11,508        
Fore Convertible Master Fund, Ltd. (19)
  $ 5,056,000       2.89 %     $ 5,056,000       90,207       90,207        
Fore Erisa Fund, Ltd. (19)
  $ 444,000       *       $ 444,000       7,922       7,922        
FPL Group Employees Pension Plan (5)
  $ 450,000       *       $ 450,000       8,029       8,029        
GMIMCO Trust (20)
  $ 500,000       *       $ 500,000       8,921       8,921        
Governing Board Employees Benefit Plan of the City of
Detroit (20)
  $ 9,000       *       $ 9,000       161       161        
Grady Hospital
Foundation (20)
  $ 95,000       *       $ 95,000       1,695       1,695        
Healthcare Georgia Foundation (20)
  $ 41,000       *       $ 41,000       732       732        
HFRCA Opportunity Master Fund (20)
  $ 164,000       *       $ 164,000       2,926       2,926        
Highbridge International
LLC (9)
  $ 19,500,000       11.14 %     $ 19,500,000       347,909       347,909        
Independence Blue
Cross (20)
  $ 431,000       *       $ 431,000       7,690       7,690        
International Truck & Engine Corporation Non—Contributory Retirement Plan Trust (4)
  $ 110,000       *       $ 110,000       1,963       1,963        
International Truck & Engine Corporation Retiree Health Benefit Trust (4)
  $ 65,000       *       $ 65,000       1,160       1,160        
International Truck & Engine Corporation Retirement Plan for Salaried Employees Trust (4)
  $ 60,000       *       $ 60,000       1,070       1,070        

2


 

                                         
                            Number of       Number of
                            Shares of   Number of   Shares of
    Amount of   Percentage           Common   Shares of   Common Stock
    Notes   of Notes   Amount of   Stock   Common Stock   Upon
    Beneficially   Beneficially   Notes to Be   Beneficially   That May Be   Completion of
    Owned ($)   Owned   Sold ()(1)   Owned(2)(3)   Sold(1)(3)   Offering(1)
JMG Capital Partners,
LP (10)
  $ 2,650,000       1.51 %   $ 2,650,000       47,280       47,280        
JMG Triton Offshore Fund, Ltd (11)
  $ 1,350,000       *     $ 1,350,000       24,086       24,086        
Kamunting Street Capital Management, L.P. (12)
  $ 4,000,000       2.29 %   $ 4,000,000       71,366       71,366        
Linden Capital LP (21)
  $ 5,500,000       3.14 %   $ 5,500,000       98,128       98,128        
Louisiana CCRF (5)
  $ 80,000       *     $ 80,000       1,427       1,427        
Lyxor Master Trust
Fund (20)
  $ 133,000       *     $ 133,000       2,373       2,373        
Microsoft Capital Group, L.P. (4)
  $ 110,000       *     $ 110,000       1,963       1,963        
National Railroad Investment Trust (4)
  $ 595,000       *     $ 595,000       10,616       10,616        
Nisswa Master Fund
Ltd. (13)
  $ 1,000,000       *     $ 1,000,000       29,942       17,842       12,100  
Nuveen Preferred & Convertible Fund
JQC (5)
  $ 2,500,000       1.43 %   $ 2,500,000       44,604       44,604        
Nuveen Preferred & Convertible Income Fund JPC (5)
  $ 1,765,000       1.01 %   $ 1,765,000       31,490       31,490        
Occidental Petroleum Corporation (20)
  $ 225,000       *     $ 225,000       4,014       4,014        
OCM Convertible Trust (4)
  $ 335,000       *     $ 335,000       5,977       5,977        
OCM Global Convertible Securities Fund (4)
  $ 140,000       *     $ 140,000       2,498       2,498        
Partner Reinsurance Company Ltd. (4)
  $ 245,000       *     $ 245,000       4,371       4,371        
PBGC Maintenance (25)
  $ 48,000       *     $ 48,000       856       856        
Police & Fire Retirement System of the City of Detroit (20)
  $ 318,000       *     $ 318,000       5,674       5,674        
Polygon Global Opportunities Master Fund (22)
  $ 6,000,000       3.43 %   $ 6,000,000       107,049       107,049        
Pro Mutual (20)
  $ 631,000       *     $ 631,000       11,258       11,258        
Qwest Occupational Health Trust (4)
  $ 75,000       *     $ 75,000       1,338       1,338        
Qwest Pension Trust (4)
  $ 465,000       *     $ 465,000       8,296       8,296        
Raytheon Phoenix (20)
  $ 542,000       *     $ 542,000       9,670       9,670        
S.A.C. Arbitrage Fund, LLC (14)
  $ 4,000,000       2.29 %   $ 4,000,000       71,366       71,366        
San Francisco City and County ERS (20)
  $ 987,000       *     $ 987,000       17,610       17,610        
Sandelman Partners Multi—Strategy Master Fund
Ltd. (15)
  $ 11,500,000       6.57 %   $ 11,500,000       205,177       205,177        
Satellite Convertible Arbitrage Master Fund LLC (16)
  $ 10,000,000       5.71 %   $ 10,000,000       227,335       178,415       48,920  
Seattle City Employee Retirement System (20)
  $ 59,000       *     $ 59,000       1,053       1,053        
Stark Master Fund Ltd. (17)
  $ 19,000,000       10.86 %   $ 19,000,000       338,989       338,989        

3


 

                                                 
                            Number of       Number of
                            Shares of   Number of   Shares of
    Amount of   Percentage           Common   Shares of   Common Stock
    Notes   of Notes   Amount of   Stock   Common Stock   Upon
    Beneficially   Beneficially   Notes to Be   Beneficially   That May Be   Completion of
    Owned ($)   Owned   Sold ()(1)   Owned(2)(3)   Sold(1)(3)   Offering(1)
Starvest Convertible Securities Fund (20)
  $ 31,000       *     $ 31,000       553       553        
State of Oregon Equity (5)
  $ 1,700,000       *     $ 1,700,000       30,331       30,331        
Teachers Retirement System of the City of
New York (20)
  $ 831,000       *     $ 831,000       14,826       14,826        
Trust for the Defined Benefit Plans of ICI American Holdings, Inc. (4)
  $ 115,000       *     $ 115,000       2,052       2,052        
Trustmark Insurance Company (20)
  $ 204,000       *     $ 204,000       3,640       3,640        
UnumProvident
Corporation (4)
  $ 160,000       *     $ 160,000       2,855       2,855        
US Bank FBO Essentia Health Systems (5)
  $ 60,000       *     $ 60,000       1,070       1,070        
Vanguard Convertible Securities Fund, Inc. (4)
  $ 2,015,000       1.15 %   $ 2,015,000       35,951       35,951        
Vicis Capital Master
Fund (18)
  $ 2,000,000       1.14 %   $ 2,000,000       35,683       35,683        
Virginia Retirement
System (4)
  $ 880,000       *     $ 880,000       15,701       15,701        
Other Securityholders (26)
  $ 3,317,000       1.89 %   $ 3,317,000       59,181       59,181        
 
 
                                               
Total
  $ 171,024,900       97.73 %   $ 171,024,900       3,112,361       3,051,341       61,020  
 
*   Less than 1%.
 
(1)   Because a selling security holder may sell all or a portion of the notes and common shares issuable upon exchange of the notes pursuant to this prospectus, an estimate cannot be given as to the number or percentage of notes and common shares that the selling security holder will hold upon termination of any sales. The information presented assumes that all of the selling security holders will fully exchange the notes for cash and Shares of common stock and that the selling security holders will sell all Shares of common stock that they received pursuant to such exchange.
 
(2)   Includes shares of common stock issuable upon exchange of the notes and open short positions in the shares of common stock. Does not include share of our common stock underlying shares of our Series B Preferred Convertible Stock.
 
(3)   The number of shares of our common stock issuable upon conversion of the notes is calculated assuming (i) that the notes are worth $350,000,000 at the time of conversion, with the $175,000,000 principal amount paid in cash and the remaining $175,000,000 paid in shares of our common stock and (ii) the conversion of the full amount of notes held by such holder at the initial conversion rate of 15.1653 per $1,000 principal amount of the notes, which equals an initial conversion price of $65.94. This conversion rate is subject to adjustment as described under “Description of Notes — Conversion Rights — Conversion Rate Adjustments.” Accordingly, the number of shares of our common stock to be sold may increase or decrease from time to time. Fractional shares will not be issued upon conversion of the notes. Cash will be paid instead of fractional shares, if any.
 
(4)   Representatives of this security holder have advised us that this security holder is an affiliate of a U.S. registered broker-dealer; however, this security holder acquired the notes in the ordinary course of business and, at the time of the acquisition, had no agreements or understandings, directly or indirectly, with any party to distribute the notes or our common stock issuable upon conversion of the notes held by this security holder. Oaktree Capital Management LLC is the portfolio manager of the security holder. Lawrence Keele, Principal of Oaktree Capital Management LLC, holds the voting and dispositive power with respect to the notes or our common stock issuable upon conversion of the notes held by this security holder.
 
(5)   Representatives of this security holder have advised us that Ann Houlihan CCO, on behalf of Froley, Revy Investment Co., Inc., holds the voting and dispositive power with respect to the notes or our common stock issuable upon conversion of the notes held by this security holder.
 
(6)   Representatives of this security holder have advised us that Kevin Taner, Robert H. Lynch Jr., Anthony Frascella and William R. Techar, joint owners of the investment manager of this security holder, are the natural persons who hold the voting and dispositive power with respect to the notes or our common stock issuable upon conversion of the notes held by this security holder.
 
(7)   This security holder has advised us that it is a U.S. registered broker-dealer. As such, the security holder is, under the interpretation of the Securities and Exchange Commission, an “underwriter” within the meaning of the Securities Act of 1933, as amended. Please see “Plan of Distribution” for required disclosure regarding this security holder. Voting and dispositive power with respect to the notes and our common stock issuable upon conversion of the notes held by this security holder is held by Michael Loyd, Senior Managing Director of the security holder.

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(8)   Representatives of this security holder have advised us that CNH Partners, LLC is the Investment Advisor of the security holder and has sole voting and dispositive power over the notes or our common stock issuable upon conversion of the notes held by this security holder. The Investment Principals for the Investment Advisor are Robert Krail, Mark Mitchell and Todd Pulvino.
 
(9)   This security holder has advised us that Highbridge Capital Management, LLC is the trading manager of this security holder and consequently has voting control and investment discretion over the notes and our common stock issuable upon conversion of the notes held by this security holder. Glenn Dubin and Henry Swieca control Capital Management, LLC and are the natural persons with voting and dispositive power with respect to the notes or our common stock issuable upon conversion of the notes held by this security holder. Each of Capital Management, LLC, Mr. Dubin and Mr. Swieca disclaims beneficial ownership of securities held by this security holder.
 
(10)   This security holder has advised us that voting and dispositive power with respect to the notes or our common stock held by this security holder is held by Jonathan M. Glaser.
 
(11)   This security holder has advised us that voting and dispositive power with respect to the notes or our common stock held by this security holder is held by Jonathan M. Glaser and Roger Richter.
 
(12)   This security holder has advised us that voting and dispositive power with respect to the notes or our common stock held by this security holder is held by Allan Teh.
 
(13)   This security holder has advised us that voting and dispositive power with respect to the notes or our common stock held by this security holder is held by Brian Tayler and Aaron Yeevy.
 
(14)   This security holder has advised us that voting and dispositive power with respect to the notes or our common stock held by this security holder is held by Steven A. Cohen. Mr. Cohen disclaims beneficial ownership of securities held by this security holder.
 
(15)   This security holder has advised us that voting and dispositive power with respect to the notes or our common stock held by this security holder is held by John Sandelman.
 
(16)   This security holder has advised us that voting and dispositive power with respect to the notes or our common stock held by this security holder is held by Satellite Fund Management, LLC. The managing members of Satellite Fund Management, LLC are Lief Rosenblatt, Mark Sonnino and Gabe Nechamkin. Each of Satellite Fund Management, LLC, Lief Rosenblatt, Mark Sonnino and Gabe Nechamkin disclaims beneficial ownership of securities held by this security holder.
 
(17)   Representatives of this security holder have advised us that this security holder is an affiliate of a U.S. registered broker-dealer; however, this security holder acquired the notes in the ordinary course of business and, at the time of the acquisition, had no agreements or understandings, directly or indirectly, with any party to distribute the notes or our common stock issuable upon conversion of the notes held by this security holder. Stark Offshore Management, LLC is the investment manager of the security holder. Michael A. Roth is the managing member of Stark Offshore Management, LLC, and holds the voting and dispositive power with respect to the notes or our common stock issuable upon conversion of the notes held by this security holder.
 
(18)   Vicis Capital LLC is the investment manager of Vicis Capital Master Fund. John Succo, Shad Stastney and Sky Lucas control Vicis Capital LLC. As such, Messrs. Succo, Stastney and Lucas are the natural persons who have voting and investment control of the securities being offered. Each of Messrs. Succo, Stastney and Lucas disclaims beneficial ownership of securities held by this security holder.
 
(19)   Representatives of this security holder have advised us that this security holder is an investment company under the Investment Company Act of 1940, as amended. Michael Li is the Chief Executive Officer of this security holder, and as such is the natural person with voting and investment control of the securities being offered.
 
(20)   This security holder has advised us that voting and dispositive power with respect to the notes or our common stock held by this security holder is held by Advent Capital Management, LLC. The President of Advent Capital Management, LLC is Tracy V. Maitland.
 
(21)  
This security holder has advised that voting and dispositive power with respect to the notes or our common stock held by this security holder is held by Siu Min Wong.
 
(22)  
Polygon Investment Partner LLP and Polygon Investment Partners LP (the “Investment Managers”), Polygon Investments Ltd. (the “Manager”), Alexander E. Jackson, Reade E. Griffith and Patrick G.G. Dear share voting and dispositive power of the securities held by Polygon Global Opportunities Master Fund. The Investment Managers, the Manager, Alexander E. Jackson, Reade E. Griffith and Patrick G.G. Dear disclaim beneficial ownership of the securities held by Polygon Global Opportunities Master Fund.
 
(23)  
This security holder has advised us that it is a U.S. registered broker-dealer. As such, the security holder is, under the interpretation of the Securities and Exchange Commission, an “underwriter” within the meaning of the Securities Act of 1933, as amended. Please see “Plan of Distribution” for required disclosure regarding this selling security holder. This security holder is a publicly traded corporation.
 
(24)  
This security holder has advised us that it is a U.S. registered broker-dealer. As such, the security holder is, under the interpretation of the Securities and Exchange Commission, an “underwriter” within the meaning of the Securities Act of 1933, as amended. Please see “Plan of Distribution” for required disclosure regarding this security holder. This security holder is a publicly traded company.
 
(25)  
This security holder has advised us that voting and dispositive power with respect to the notes or our common stock held by this security holder is held by Chris Dialynis.
 
(26)  
We will identify other selling security holders and describe their security beneficial ownership and amounts of securities to be sold by filing a prospectus supplement including such information.
Selling security holders who are registered broker-dealers are “underwriters” within the meaning of the Securities Act of 1933. In addition, selling security holders who are affiliates of registered broker-dealers are “underwriters” within the meaning of the Securities Act of 1933 if such selling security holder (a) did not acquire its notes or underlying Shares of common stock in the ordinary course of business or (b) had an agreement or understanding, directly or indirectly, with any person to distribute the notes or underlying common shares. To our knowledge, no selling security holder who is a registered broker-dealer or an affiliate of a registered broker-dealer received any securities as underwriting compensation.

5