Goodrich Petroleum Chairman Patrick Malloy on FBN’s Happy Hour

The shares of Goodrich Petroleum (GDP-NYSE) have been one of the best performing stocks on the Big Board as investors latch on to the natural gas deposits that make up the Haynesville Shale formation.

Patrick Malloy, Chairman of the Board, is certainly one of the legendary characters in corporate America. Shot down twice in Vietnam, he survived intact to later do battle with the Hunt Brothers as they attempted to corner the silver market nearly 30 years ago.

Malloy has had more ups than downs of late, investing with John Kanas in North Fork Bancorp, which was sold at the top of the market for financials, and eventually hit a gusher with his investment in Goodrich Petroleum, where he now serves as Chairman of the Board. His current holdings in the company are are worth in the neighborhood of $375 million, and he showed off Sag Harbor, which he has helped resurrect, and one of his toys to Eric Bolling today on Fox’s Happy Hour.

Intuition II

Patrick is a self made man, and has some crazy stories, along with strong opinions on the energy markets and commodity trading.

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Malloy’s Yacht Intuition II is currently docked at the Sag Harbor Yacht Club, which he also happens to own. Mr. Malloy is a war hero, and seems like an all around good guy, but diesel slurping yachts do not exactly capture the zeitgeist of the moment in America. Maybe I am in a dour mood, but a sailboat seems to have more appeal after a day, and year, like this.

His 193 foot yacht features 19 bedrooms and a wood burning fireplace, and fills up with something in the neighborhood of 83 tons of diesel fuel when it pits to fill up the tank..

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Patrick E.  Malloy III
Chairman of the Board, Goodrich Petroleum
Mr. Malloy, III. became Chairman of the Board of Directors in February 2003. He has been President and Chief Executive Officer of Malloy Enterprises, Inc., a real estate and investment holding company, and Malloy Real Estate, Inc. since 1973. In addition, Mr. Malloy served as a director of North Fork Bancorp (NYSE) from 1998 to 2002 and was Chairman of the Board of New York Bancorp (NYSE) from 1991 to 1998. He joined the Company’s Board in May 2000.
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Patrick’s 5 million shares could probably buy a few sailboats.

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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. No Positions

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