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PetroQuest IPs Final Cotton Valley Well of 2016
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PetroQuest Energy, Inc.'s fourth quarter 2015 production averaged approximately 72.5 MMcfe per day (75% gas, 15% NGL and 10% oil), as compared to the previously announced guidance of 67-73 MMcfe per day.
At December 31, 2015, the Company had $148 million in cash and no borrowings outstanding under its credit facility. The Company is planning to provide its 2016 production and capital expenditure guidance as well as its 2015 estimated proved reserves during the third week of February.
Operations Update Cotton ValleyIn East Texas, the Company recently completed its PQ #19 (NRI - 65%) horizontal Cotton Valley well. The well has achieved a maximum 24-hour gross rate of 7,853 Mcf of gas, 581 barrels of natural gas liquids and 43 barrels of oil. In addition, the Company completed its PQ #20…
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