PetroQuest Ends 2009 with 179 Bcfe of Proved Reserves

PetroQuest Energy ended 2009 with approximately 179 Bcfe of proved oil and gas reserves. The Company's year-end reserves were net of approximately 3 Bcfe of proved reserves sold during 2009. Approximately 88% of the proved reserves at December 31, 2009 were natural gas, approximately 77% were located in long-lived basins and approximately 62% of the reserves were proved developed. As a result of the new SEC reserve pricing methodology, which averaged $3.87 per Mcf and $61.18 per barrel; along with the expiration of several high value cash flow hedges, the Company expects to record a non-cash ceiling test writedown of approximately $50 - $55 million during the fourth quarter of 2009.


Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Production Control Coordinator
Expertise: Production Engineering
Location: Houston, TX
Senior Engineer - Systems
Expertise: Subsea Engineering
Location: Wallingford, CT
United States Rock Springs: Field Engineer - Cased Hole
Expertise: Field Development|Field Service Tech
Location: Rock Springs, WY
search for more jobs

Brent Crude Oil : $53.87/BBL 0.48%
Light Crude Oil : $50.73/BBL 0.79%
Natural Gas : $3.33/MMBtu 2.14%
Updated in last 24 hours