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PetroQuest 4Q Wrap Up; Updates Cotton Valley, Woodford Ops
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PetroQuest Energy, Inc. announced that the Company ended 2014 with approximately 397 Bcfe of estimated proved oil and gas reserves having a pre-tax discounted value (PV-10) including hedges of approximately $600 million.
The Company's proved reserves and PV-10 increased 32% and 27% from 2013, respectively. The Company's estimated proved reserves at December 31, 2014 were comprised of 77% natural gas, 4% oil and 19% natural gas liquids. In addition, approximately 86% of the reserves were located in long-lived basins and approximately 60% were proved developed. The Company estimates that it replaced approximately 320% of the proved reserves it produced during 2014.
The Company estimates that its 2014 production was approximately 43.3 Bcfe, or 118.7 MMcfe per day, including fourth quarter…
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