The Company plans to rework all 12 of the recently acquired wells. Management believes that reworking these wells in their existing production zones could increase present production by as much as 400%. Additionally, the Company's Management believes that these 12 wells are ideal candidates for recompletion in additional uphole production zones. PetroQuest Resources, Inc.'s President, Warren F. Lory, stated:
This acquisition is a good example of our Company's core investment strategy for the forseeable future.
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