PetroQuest Acquires Natural Gas Gathering System

PetroQuest Resources, Inc. reported that Tyr Energy, Inc., one of its wholly owned subsidiaries, acquired approximately 82 miles of natural gas pipeline, gathering, transportation system, rights of way, and meter site sales points situated in Vinton County, Ohio, in late-May 2006. The acquisition was recorded in the Vinton County Deed Records on June 22, 2006. This is the planned acquisition announced by PetroQuest in its February 28, 2006, press release. The gas gathering system that was acquired comprises a combination of 4-inch, 3-inch, and 2-inch steel and plastic natural gas piping.

Following the acquisition, the gas gathering system was connected to a 132-mile natural gas pipeline, gathering, and transportation system immediately to the north of the 82-mile system that was already owned by Tyr Energy.

The acquisition is part of the company's long range plans to provide a transportation system in Vinton County for the natural gas produced by PetroQuest's subsidiaries and third parties on a fee basis.

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