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PetroQuest's Cotton Valley Wells 'Exceeding Expectations'; Adds Rig
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PetroQuest Energy Inc. has reported a third quarter 2014 update on its East Texas operations.
The Company drilled and completed 6 gross horizontal Cotton Valley wells in 2014. The following table summarizes the extended gross production (MMcfe/d) from each well:
The Company recently completed its PQ #11 horizontal Cotton Valley well (NRI - 42%). The well achieved a maximum 24-hour gross rate of 5,758 Mcf of gas and 357 barrels of natural gas liquids. During completion operations a mechanical issue was discovered in the lateral section of the casing. Several attempts were made to resolve the issue, but were not entirely successful. As a result, the Company believes that only 10 of the 14 stages are effectively contributing in this well.
Based on the production profile exceeding Company…
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