One-Page Deal Sheet
PetroQuest Energy Announces Woodford Shale Joint Venture
Petroquest Energy Inc. Nextera Energy Resources
Announced Date
May 25,2010
Close Date
May 24,2010
Transaction Type
Property
Enterprise Value (EV)($MM)
74
Asset/Basin:
{"Arkoma 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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