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PetroQuest Talks 2016 Budget, Hedging; Well Production Rates
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PetroQuest Energy, Inc. reported its latest reserve analysis, 2016 production guidance, 2016 capital budget plans as well as an operational update.
Key Points: The Company's capital budget for 2016 is expected to range between $20 million and $25 million The Company projects its first quarter 2016 production to average between 72 and 76 MMcfe per day The Company ended 2015 with approximately 178 Bcfe of estimated proved oil and gas reserves ReservesThe Company ended 2015 with approximately 178 Bcfe of estimated proved oil and gas reserves having a pre-tax discounted value including hedges of approximately $129 million (SEC pricing: $2.58/Mcf of natural gas and $50.28/Bbl of oil). Proved reserves at December 31, 2015 do not include the unproved, behind pipe reserves associated with the…
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