Charlie Goodson, President, Chairman and Chief Executive Officer of PetroQuest Energy, Inc. (NYSE: PQ), presented today at EnerCom’s The Oil & Gas Conference® 20.
PetroQuest Energy, Inc. is an independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in Texas, Oklahoma, Louisiana and the shallow waters of the Gulf of Mexico.
The company’s drilling program yielded a 40,000 MMcfe/d well at its Thunder Bayou discovery (37% net revenue interest) on the Gulf Coast. In East Texas, the three-well program averaged per well gross costs of $5.2 million, with average gross proved reserves of 8.1 Bcfe. Two rigs are running in Oklahoma, where eight new Woodford wells commenced production in the quarter.
During the company’s breakout session, management was asked the following questions:
- Have you hired an investment banker, or looked at going to a private equity firm?
- Any issues with redetermination?
- Has the Street responded to your divestiture?
- What are your plans and cost structure in Cotton Valley?
- Have you thought about initiating some buy-backs?
- What’s the revised ’16 CAPEX budget?
- What has changed in Cotton Valley in the last 3 years to make it special?
- What do declines in Cotton Valley look like?
- What are the capacity restrictions at Thunder Bayou?
- Are you looking to grow through acquisitions?
- What are you guys seeing on NGLs right now?
- Are there any plans to drill in Fleetwood later this year?
- How are you optimizing operations in Cotton Valley?
- How many wells are you planning to drill in Cotton Valley in ’16?
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