Goodrich Petroleum Corporation (NYSE American: GDP) said Oct. 18 it entered into a swap of undeveloped acreage in its Haynesville Shale position in North Louisiana.

Goodrich said in a news release it traded about 900 net acres out of its Metcalf area of central Caddo Parish, La., for a similar amount of acreage in its Bethany-Longstreet area in southern Caddo. Goodrich's partner in the swap wasn't named.

The swap increases its inventory of long laterals and operated acreage while carrying lower gathering fees, the company said. The deal equates to an increase in proved undeveloped reserves of 25.5 billion cubic feet equivalent based on the year-end the Securities and Exchange Commission’s 2016 reserve report at a Henry Hub spot price of $2.481 per million Btus and $42.75 per barrel of West Texas Intermediate crude.

Goodrich also said it entered into a $250 million senior secured revolving credit agreement with JP Morgan Chase N.A., SunTrust Bank and SunTrust Robinson Humphrey Inc. The credit facility has an initial borrowing base of $40 million. As of Sept. 30, the company had $31.1 million of cash on hand $23.3 million available under its previous credit facility.

Goodrich is led by president and COO Robert Turnham.