Exploration & Production | Top Story | Quarterly / Earnings Reports | First Quarter (1Q) Update
PetroQuest Nearly Doubles Oil Production; Touts Woodford Ops
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PetroQuest Energy, Inc. has announced results for the first quarter of 2014.
The following compares certain first quarter 2014 metrics to those of the first quarter of 2013, highlighting the Company's recent growth driven by its acquisition of certain Gulf of Mexico assets in July 2013 as well as stronger natural gas prices:
Oil production increased 93% Net income increased 285% Discretionary cash flow increased 85% Oil and gas revenues up 67%Oil and gas sales during the first quarter of 2014 were $59,966,000, as compared to $35,976,000 in the first quarter of 2013. Production for the first quarter of 2014 was 9,769,110 Mcfe, as compared to 8,255,580 Mcfe in the first quarter of 2013.
Oil and NGL volumes comprised approximately 26% of the Company's total production during the first…
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