Exploration & Production | Top Story | Quarterly / Earnings Reports
PetroQuest to Add Woodford Rig; Eyes 213% Growth by 2014
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PetroQuest Energy Inc. has reported an update on its second quarter Woodford operations.
The Company has two dry gas wells (NRI – 39%) that have reached total depth and are expected to be completed in approximately three weeks. The Company is in the process of mobilizing a rig to the liquids rich area of its leasehold position.
In addition, the Company expects to have a second rig in this part of the trend by early fourth quarter of 2013 and a third rig by the first quarter of 2014. In total, the Company expects to drill approximately 50 gross wells in 2014, which is a 213% increase from its expected 2013 gross well count of 16 wells.
The Company continues to acquire additional acreage in the liquids portion of the trend and has increased its position by over 400% during 2013. The…
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