PetroQuest Energy, Inc. (NYSE: PQ) announced its estimated proved reserves and production volumes for the full-year 2011.

During 2011, PQ grew its proved reserves 37% YOY to 265 Bcfe (61% proved developed) and reported its PV-10 is approximately $341.3 million. PQ’s 2011 proved reserves are the highest the company has ever reported. The company’s total proved reserves are estimated to comprise 91% natural gas, 3% oil and 6% NGLs. OAG360 notes that PQ exceeded its forecasted proved reserves growth rate of 25%.

On the drill-bit front, PQ replac...

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