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PetroQuest Touts Results from GOM Projects; Looks to Improve Financials
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PetroQuest Energy, Inc. announced its first quarter 2016 results.
Key Points: Production for the first quarter of 2016 was 7.6 Bcfe, compared to 10.4 Bcfe for the comparable period of 2015 - reduction due to Arkoma sale. In the Gulf of Mexico, the Company expects to commence a three well recompletion program at its Ship Shoal 72 field at the end of second quarter. Thunder Bayou well is currently flowing at approximately 30 MMcfe/d (NRI-37%) and its production profile continues to exceed expectations. The Company currently has no borrowings outstanding under its Credit Facility and is undergoing a borrowing base redetermination. The Company expects that the borrowing base and aggregate commitments under the Credit Facility will be reduced. The company announced a net loss to common…- ✓ Full news archive — U.S., Canada & international coverage
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