Drilling & Completions | Quarterly / Earnings Reports | Third Quarter (3Q) Update | Production Rates
PetroQuest Grows Cotton Valley Drilling Locations; Ups Production 44.2% YOY
PetroQuest reported its Q3 results where it discussed production rates and its activity in the Cotton Valley. Highlights include:
- Production in Q3 was 7.5 Bcfe, an increase of 44.2% from Q3 2016 when production was 5.2 Bcfe
PetroQuest reported average daily production of 81.3 mmcfe/d during Q3, which was an increase of 43.1% from Q3 2016 when average daily production was 56.8. The company reported total Q3 oil production of 142,830 bbls an increase of 15.9% from Q3 2016, natural gas production of 5,336,119 mcf an increase of 46.2% from Q3 2016, and NGL production of 1,283,900 mcfe an increase of 53.2% from Q3 2016.
During 2017, PetroQuest focused primarily on growing its position in the Cotton Valley. In 2017, it increased its acreage from 6,000 net acres to 8,200 net acres, an increase of 36.6%. As a result of adding additional acreage, the company grew its Cotton Valley drilling inventory from 601 gross locations to 838 gross locations.
During 2017, PetroQuest focused primarily on growing its position in the Cotton Valley. In 2017, it increased its acreage from 6,000 net acres to 8,200 net acres, an increase of 36.6%. As a result of adding additional acreage, the company grew its Cotton Valley drilling inventory from 601 gross locations to 838 gross locations.
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Third Quarter (3Q) Update
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