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  • PetroQuest Energy, Inc. (PQ) Reports On Oil And Gas Activity In Oklahoma 0 comments
    Feb 1, 2012 5:41 PM | about stocks: PQ

    PetroQuest Energy, Inc. provided an operational update on the company's oil and gas exploration and development activity in the United States. The company is active in various onshore plays, including the Woodford Shale and Mississippi Lime.

    PetroQuest Energy has started production on 10 wells recently drilled and completed into the Woodford Shale in Oklahoma. The company estimated that the average initial production rate for these wells was 5.1 million cubic feet of natural gas per day.

    PetroQuest Energy said that four of the wells were drilled in the western portion of the company's Woodford Shale properties and produced natural gas liquids in the production stream, resulting in natural gas with a 1,200 Btu level.

    PetroQuest Energy has added to its acreage in Oklahoma that is prospective for the Mississippi Lime formation, and now has 31,000 net acres under lease. The company is currently drilling a water disposal well and expects to start drilling its first well here in February 2012.

    PetroQuest Energy estimates that it will drill twenty wells in 2012 targeting liquids rich areas of the Woodford Shale, and 10 to 15 wells targeting the Mississippian Lime formation.

    For more information on the company, go to petroquest.com

    Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net

    Stocks: PQ
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