Houston-based Goodrich Petroleum Corp. reported that its latest Tuscaloosa Marine Shale well, located in Amite County, Mississippi, had a peak initial production rate equivalent to 1,250 barrels of oil per day.

The company has leases on more than 300,000 acres in the formation, which stretches across Louisiana into Mississippi and is thought to hold 9 billion barrels of oil.

Goodrich is attempting to demonstrate oil can be produced profitably and reliably from wells in the formation.

The company now has three drilling rigs working and has a number of wells in various stages of development, including two in Tangipahoa Parish, the Verberne 5H-1 and Williams 46H-1.

Earlier this year, Goodrich said its Blades 33H-1 well in Tangipahoa clocked an initial production rate equivalent to 1,270 barrels of oil per day.