Today, 5:35 PM
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Thu, Apr. 16, 5:37 PM
Wed, Apr. 8, 12:46 PM
Tue, Mar. 31, 12:59 PM
- PetroQuest Energy (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.
Mon, Mar. 30, 5:38 PM
Thu, Mar. 12, 12:45 PM
Thu, Mar. 12, 7:47 AM
- PetroQuest Energy (NYSE:PQ) says it will not proceed with its previously announced 10M-share public offering, deciding that an offering in light of current market conditions was not in the best interests of stockholders.
- PQ had sought funding for working capital and general corporate purposes.
- PQ -1.6% premarket after falling more than 10% on the original announcement.
Wed, Mar. 11, 5:36 PM
Wed, Mar. 11, 4:34 PM
- PetroQuest Energy (NYSE:PQ) -10.8% AH after announcing a public offering of 10M common shares, with an underwriters option to purchase up to an additional 1.5M shares.
- PQ says it plans to use the proceeds for working capital and general corporate purposes, including the repayment of outstanding borrowings under its senior secured bank credit facility.
Wed, Mar. 4, 5:54 PM| 2 Comments
Tue, Mar. 3, 5:35 PM
Tue, Jan. 13, 12:47 PM
- Traders smelling blood - or oil - in the water have piled into shorts against energy E&P companies, with short interest jumping a total of 12% for the final two weeks of 2014, according to Sterne Agee analysts using NYSE data.
- Oasis Petroleum (NYSE:OAS) led a 45.9% jump in short interest, followed by Pioneer Natural Resources (NYSE:PXD) with a 45.2% increase and Chesapeake Energy (NYSE:CHK) short growth of 31.9%.
- Sterne Agee energy analyst Tim Rezvan thinks the shorts are on the right side of the oil trade for the foreseeable future, believing a break below $40/bbl "wouldn't be a surprise in the short term."
- Short positions did not increase for all companies, as short growth fell for Viper Energy Partners (NASDAQ:VNOM), Callon Petroleum (NYSE:CPE), Energen (NYSE:EGN) and PetroQuest Energy (NYSE:PQ), among others.
Dec. 9, 2014, 12:45 PM
Dec. 9, 2014, 10:27 AM
- Petroquest Energy (PQ +18.2%) rebounds from five-year lows after announcing a significant discovery at its Thunder Bayou prospect in Louisiana.
- PQ has a ~50% working interest and 37% net revenue interest in the well, which logged ~490 gross ft. of high quality pay within the primary Cris R2 objective.
- PQ says it expects to begin production from its Thunder Bayou discovery well in Q2 2015 at 25K-30K cf/day of gas plus associated oil and natural gas liquids.
Dec. 2, 2014, 5:44 PM
- Oil producers with the most debt are the most at risk in a ~$70/bbl oil price environment, since they have more relative cash flow directed toward interest payments rather than drilling, so they’re most likely to see production declines.
- For investors looking to limit risk, MarketWatch's Philip Van Doorn provides a list of U.S. shale oil producers with market values of at least $50M and share prices above $1 with the highest ratios of debt to equity, in order: UPL, MPO, MRD, ISRL, JONE, XCO, PQ, GDP, LINE, HK.
Nov. 3, 2014, 4:04 PM| Comment!
PQ vs. ETF Alternatives
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