PetroQuest Energy Inc. (NYSE: PQ) detailed the results of its recent borrowing base redetermination, and also detailed its first-quarter 2014 operations.
The company’s bank group, which now consists of six banks, reaffirmed the $200 million borrowing base in a semi-annual redetermination, PetroQuest Energy said.
On March 31, there was $75 million outstanding under its credit facility, the company added.
The next redetermination is scheduled to occur before Sept. 30, the company noted.
The company operates in the Woodford Shale, on the Gulf Coast and in East Texas’ Cotton Valley.