- PetroQuest Energy (NYSE:PQ +6.1%) is sharply higher after saying its lenders have revised its $220M borrowing base to $190M.
- PQ is asking for an interim re-determination of its borrowing base in to reflect the likely addition of its Thunder Bayou discovery well in Louisiana as a producing asset.
- PQ sees Thunder Bayou production increasing by 25M cf/day when first well comes on-line in May and eventually growing as high as 70M cf/day; production is expected to begin in May.