Production has Been Restored on PetroQuest's Main Pass 74 Field
PetroQuest Energy says that production has been restored in its Main Pass 74 field. The Company is currently ramping up production, which is expected to be back at pre-shut in rates within a few days. The Main Pass field, which comprised approximately 16% of the Company's total second quarter production, has been shut in due to mechanical problems with a third party pipeline that occurred two weeks ago.
"We are pleased with the restoration of production at Main Pass, and we anticipate producing at record rates as a Company in the near future," said Charles T. Goodson, Chairman, Chief Executive Officer and President. "We will never be able to entirely avoid risks related to our oil and gas production. However, we have continued to grow production while diversifying into longer-lived basins and disposing of approximately 60% of our offshore fields, which has dramatically reduced our exposure to the Gulf Coast basin."
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