PetroQuest Energy, Inc. (ticker: PQ) has new results from its horizontal Cotton Valley drilling program in East Texas.

The company recently completed two wells (PQ #29 – 52% NRI and PQ #30 – 59% NRI) which established a cumulative maximum 24-hour gross daily rate of 18,385 Mcf of gas, 1,354 barrels of NGLs and 55 barrels of oil, for an equivalent rate of 26,839 Mcfe/d.

The initial maximum 24-hour gross daily rates and certain additional operating data per well were as follows:

Well Max 24-Hour Mcfe/d Lateral Length (ft) Lbs Proppant/foot Cluster Spacing (ft) Bench Tested
PQ #29 15,371 6,250 772 101 E-Berry
PQ #30 11,469 5,382 759 101 E-Berry

 

PetroQuest estimates these two wells had an average drill and complete cost of $887 per lateral foot. The company is in the process of evaluating various joint venture structures in connection with planning its 2018 Cotton Valley drilling program.


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