PetroQuest Energy Inc., Lafayette, Louisiana, (NYSE: PQ) has updated its unconventional operations across north America, including reporting well results at its Woodford prospects.
In Oklahoma, the company recently completed six operated Woodford horizontal wells.
The following is a summary of the results:
Well Number | NRI | Initial Sales Date | Lateral Length | 24-hour Gross Rate |
PQ 47 | 30% | 5/17/2011 | 5,255 ft. | 5,340 Mcf/d |
PQ 48 | 27% | 4/21/2011 | 4,691 ft. | 3,151 Mcf/d |
PQ 49 | 20% | 5/23/2011 | 5,506 ft. | 3,382 Mcf/d |
PQ 50 | 53% | 5/12/2011 | 5,115 ft. | 6,208 Mcf/d |
PQ 51 | 20% | 5/31/2011 | 5,558 ft. | 2,609 Mcf/d |
PQ 52 | 17% | 6/23/2011 | 5,285 ft. | 8,935 Mcf/d |
In addition to the above completions, the company has reached total depth on six Woodford operated wells and expects to complete all six plus two additional Woodford operated wells during the third quarter. The company is currently running three operated rigs and expects to add a fourth operated rig during the third quarter.
In East Texas, the company recently completed its first operated horizontal Cotton Valley well (NRI –39 %). The 3,700 foot lateral well achieved an initial 24 hour gross daily production rate of approximately 7,100 Mcf of gas and 510 barrels of natural gas liquids. In addition, the company's first Chevron-operated horizontal Cotton Valley well (NRI - 39%) was recently completed and achieved an initial 24 hour gross daily rate of approximately 1,200 Mcf of gas and 95 barrels of natural gas liquids. The operator encountered mechanical problems during the completion, and as a result, only six of the frac stages were successfully performed on this short lateral (1,936 foot).
The company's third Classic operated horizontal Cotton Valley well (WI - 30%) has reached total depth and the company's fourth Classic operated horizontal Cotton Valley well (WI - 30%) is nearing total depth. Both Classic operated wells are expected to be completed during the third quarter. The company currently has three rigs (1 PQ – 1 Chevron – 1 Classic) working in the Southern portion of its Carthage field.
In the Niobrara, the company's first SM Energy Company-operated well (NRI -10%) was recently completed and achieved an initial 24 hour gross daily production rate of 837 barrels of oil. In addition, the company's fifth, fourth and third LoneStar operated wells, the McFarland (NRI – 15%), Davis (NRI - 20%) and Hester (NRI - 20%), were recently completed and achieved an initial 24 hour gross daily production rates of 1,605 barrels of oil, 211 barrels of oil and 201 barrels of oil, respectively. At this time, the company has concluded the first phase of its Niobrara drilling program. The company's five producing Niobrara wells drilled to date will be evaluated during the next six months before commencement of additional activity.
In South Texas, the company's first operated Eagle Ford Shale well (NRI - 37%) located in Dimmit County was recently completed and achieved an initial 24 hour gross daily production rate of 253 barrels of oil. The well has experienced erratic flowback, and the company continues to try to maximize the daily rates through optimization of artificial lift. In addition, the company's second operated Eagle Ford Shale well located in La Salle County has reached total depth and is currently being completed. The company's third operated Eagle Ford Shale well located in La Salle County has reached total depth and is expected to be completed during the fourth quarter.
"PetroQuest's emerging liquids rich horizontal Cotton Valley program provides us another growth vehicle that generates attractive rates of return," says Charles T. Goodson, chairman, CEO and president. "We remain committed to our philosophy of internally funding our capital program, even in the current gas price environment."
Recommended Reading
Darbonne: ‘The Dance’ of US Policy Leaving Energy Mid Slip
2024-08-30 - The 1909 Matisse painting known as “The Dance” demonstrates the outcome of one of the U.S.’ pillars falling down.
Analyst: US NGL Market Tightens Links to Crude, NatGas Production
2024-08-30 - A boost in propane and ethane development is tied to the opening of the Matterhorn Pipeline in the Permian, evidence of the increasingly closer link between different sectors of the energy industry.
EDF Renewables Secures Investment in Solar Energy Storage Project
2024-08-30 - Power Sustainable Energy Infrastructure acquired a 50% stake in EDF Renewables North America’s Desert Quartzite Solar+Storage Project in California.
Energy Transition in Motion (Week of Aug. 30, 2024)
2024-08-30 - Here is a look at some of this week’s renewable energy news, including a more than $2 billion hydrogen and atmospheric gases facility in the works.
US Drillers Cut Oil, Gas Rigs for Third Week in a Row, Baker Hughes Says
2024-08-30 - The rig count is 8% below this time last year, according to Baker Hughes.