PetroQuest Energy Inc. (NYSE: PQ) released the latest results from its horizontal Cotton Valley drilling program in East Texas on Feb. 20.
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 million cubic feet (MMcf) of gas, 1,354 barrels (bbl) of NGL and 55 bbl of oil, for an equivalent rate of 26,839 MMcf/d of equivalent.
The company 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.
Recommended Reading
Deep Well Services, CNX Launch JV AutoSep Technologies
2024-04-25 - AutoSep Technologies, a joint venture between Deep Well Services and CNX Resources, will provide automated conventional flowback operations to the oil and gas industry.
EQT Sees Clear Path to $5B in Potential Divestments
2024-04-24 - EQT Corp. executives said that an April deal with Equinor has been a catalyst for talks with potential buyers as the company looks to shed debt for its Equitrans Midstream acquisition.
Matador Hoards Dry Powder for Potential M&A, Adds Delaware Acreage
2024-04-24 - Delaware-focused E&P Matador Resources is growing oil production, expanding midstream capacity, keeping debt low and hunting for M&A opportunities.
TotalEnergies, Vanguard Renewables Form RNG JV in US
2024-04-24 - Total Energies and Vanguard Renewable’s equally owned joint venture initially aims to advance 10 RNG projects into construction during the next 12 months.
Sitio Royalties Dives Deeper in D-J with $150MM Acquisition
2024-02-29 - Sitio Royalties is deepening its roots in the D-J Basin with a $150 million acquisition—citing regulatory certainty over future development activity in Colorado.