PetroQuest (NYSE:PQ) is a small-cap ($440 million) independent energy company engaged in the exploration, development, acquisition and production of oil and gas in Oklahoma, East Texas, and the Gulf Coast. In my earlier articles on PQ, the primary catalyst was excellent drilling results in the West Relay field of the Woodford shale. Since then PetroQuest has released a mid-Q2 operational update that shows not only continued excellence in the Woodford, but also a new record Cotton Valley well which exceeded expectations. PetroQuest now has both barrels loaded. The trigger is free cash flow generated by the company's Gulf Coast wells - and good progress was reported there as well.
The mid-Q2 operational update was released on...
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