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GOM, Cotton Valley E&P Boosts Budget 150% for 2017
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PetroQuest Energy has detailed its year-end 2016 results as well as its 2017 guidance.
Key Points: first quarter 2017 production to average between 55 and 59 MMcfe per day 2017 capex between $40 million and $48 million (up +150% from 2016's capex of $15-20 million) The Company's 2017 direct capital budget is expected to be allocated to the following projects: eight to ten horizontal Cotton Valley wells, Thunder Bayou/La Cantera and Gulf of Mexico recompletions and approximately $4 million in plugging and abandonment work in the Gulf of Mexico. First Quarter 2017 Production GuidanceThe Company projects its first quarter 2017 production to average between 55 and 59 MMcfe per day with approximately 68%, 14% and 18% to be derived from natural gas, oil and natural gas liquids…
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