Exploration & Production | Top Story | Capital Markets | Capital Expenditure
PetroQuest Divulges 2013 CapEx; Eyes Woodford, MissLime
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PetroQuest Energy Inc. ended 2012 with approximately 228 Bcfe (265 Bcfe using December 31, 2012 pricing) of estimated proved oil and gas reserves having a pre-tax discounted value (PV-10) including hedges of approximately $241.4 million ($286.1 million using December 31, 2012 pricing).
The Company's estimated proved reserves at December 31, 2012 were comprised of 85% natural gas, 4% oil and 11% natural gas liquids. In addition, approximately 87% of the reserves were located in long-lived basins and approximately 74% were proved developed.
The Company estimates that its 2012 production was approximately 34.0 Bcfe, or 92.8 MMcfe per day, including fourth quarter 2012 production of 8.9 Bcfe, or 96.3 MMcfe per day. The Company's 2012 production was 13% higher than 2011 and was comprised…
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