Exploration & Production | Drilling & Completions | Drilling / Well Results | Top Story
PetroQuest Puts Liquids-Rich Wells on Production
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PetroQuest has reported an update on its Woodford shale operations.
The Company recently completed eight wells in the liquids rich area of its leasehold position. Six of these wells have established maximum 24 hour gross rates and two wells remain in the initial production stage.
The six well group had an average lateral length of 5,360 feet and achieved a maximum 24 hour gross daily rate of 3,738 Mcf of gas and 201 barrels of natural gas liquids.
The Company continues to realize cost savings in the trend due to increased drilling efficiencies and lower service costs. The Company estimates that its cost to drill and complete these recent wells was approximately 10% - 15% lower than its 2012 average Woodford well cost.
In addition, the Company recently closed an additional…
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