One-Page Deal Sheet
PetroQuest Energy Annouces Woodford JV
Nextera Energy Gas Producing, Llc, Nextera Energy Resources Petroquest Energy Inc.
Announced Date
May 25,2010
Close Date
May 24,2010
Transaction Type
Property
Enterprise Value (EV)($MM)
74
Asset/Basin:
{"Woodford Shale"}
TargetZones:
{"Woodford Shale"}
Transaction Details: Subscribe to see
PetroQuest Energy, Inc. announced today that the Company has entered into a joint venture agreement with WSGP Gas Producing, LLC and NextEra Energy Gas Producing, LLC (collectively referred to as "NextEra"), subsidiaries of NextEra Energy Resources, whereby NextEra acquired a 50% interest in the Company's undeveloped Woodford acreage position as well as 50% of the Company's Woodford proved undeveloped reserves.
The Company received $60 million in cash at closing and will receive an additional $14 million in cash on November 30, 2011. If certain performance metrics are achieved the Company…
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