EXHIBIT 10.3

[GOODRICH LOGO]

                         CONSULTING SERVICES AGREEMENT

        THIS AGREEMENT, effective June 1, 2001, is by and between PATRICK E.
MALLOY ("Consultant") and GOODRICH PETROLEUM CORPORATION ("Company") of 815
Walker, Suite 1040, Houston, Texas 77002.

        WHEREAS, the parties hereto desire to confirm in writing their agreement
concerning consulting services that may be provided by Consultant for the
Company.

        NOW, THEREFORE, in consideration of the mutual promises and agreements
herein contained, including the recital set forth above, the parties hereto
agree as follows:

        1.  The term of this agreement shall be for two (2) years, commencing
            on the effective date hereof.

        2.  Consultant agrees to provide consulting services, on a non-exclusive
            basis, concerning the evaluation, research and implementation of the
            Company's oil and gas hedging activities and strategy. Consultant
            will assist management to devise and implement a hedging strategy
            and program in an effort to mitigate the risks associated with oil
            and gas commodity price volatility and to attempt to maximize the
            Company's realized oil and gas prices from its continuing
            operations.

        3.  The Company shall pay the Consultant an annual fee of ONE HUNDRED
            TWENTY THOUSAND AND NO/100 DOLLARS ($120,000.00).

        4.  Consultant shall perform his duties as directed by the Board of
            Directors and Chief Executive Officer of the Company.

        5.  Consultant shall perform all consulting assignments on a
            best-efforts basis.

        6.  Consultant shall be reimbursed by the Company for any reasonable
            expenses incurred by Consultant in the performance of the consulting
            services contemplated by this Agreement. Such expenses may include,
            but are not limited to, hotel accommodations, airfare, meals, auto
            rental, taxis and supplies.

        7.  To the extent and in the manner deemed appropriate by the Company,
            the Company agrees that Consultant may be supported by the Company
            through the




            assistance of various Company employees (e.g., secretarial and
            spreadsheet capability) in order to perform the consulting services
            most efficiently.

        8.  In the performance of this Agreement, Consultant may have access to
            private and confidential information owned or controlled by the
            Company. Such private and confidential information includes, but is
            not limited to, the terms of any agreement between the Company and
            any other participant or participants involved in the business of
            developing, drilling, producing or marketing hydrocarbons,
            information relating to any drilling or acquisition prospect, and
            any operating or performance information of the Company (all of the
            above information is collectively referred to as the "Confidential
            Information"). Consultant recognizes and agrees that all such
            Confidential Information is and shall remain the property of the
            Company. All information or data acquired by Consultant under this
            Agreement shall be and remain the Company's exclusive property, or
            the property of other participants or joint ventures of the Company
            or other third parties, as the case may be. Consultant shall keep
            any and all Confidential Information confidential, and shall not
            publish or disclose any Confidential Information or data to others
            without the Company's prior written approval.

        9.  Consultant shall perform all consulting services contemplated by
            this Agreement as an independent contractor.

       10.  The laws of the State of Texas will govern the interpretation,
            validity and effect of this Agreement.

        IN WITNESS WHEREOF, the parties have executed this Agreement as of the
        1st day of June 2001.


PATRICK E. MALLOY                               GOODRICH PETROLEUM CORPORATION
(Consultant)                                    (Company)


/s/  PATRICK E. MALLOY                          By  /s/  WALTER G. GOODRICH
------------------------------                  -----------------------------
                                                Name:  Walter G. Goodrich
                                                Title: President and CEO