Thursday, December 30, 2010

PetroQuest Energy (PQ): Woodford Shale Update

By Andrea:

PetroQuest Energy (PQ) recently announced that they have reached total depth on its forty-third Woodford operated horizontal well (4,592 foot lateral). The Company expects to complete its forty-second (5,068 foot lateral) and forty-third Woodford operated wells before year-end. In addition, the Company has taken delivery of its second Woodford rig and recently spud its forty-fourth Woodford operated well. To date, the Company has drilled 43 gross operated horizontal wells and participated in 38 non-operated horizontal wells in the Woodford. The Company's total horizontal well count represents approximately 9% of all horizontal wells drilled in the trend.

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