PetroQuest Sells Gulf of Mexico Assets
"This was an opportunity for us to monetize some of our mature Gulf Coast assets and utilize the capital for our continued expansion in East Texas and Arkoma," said Charles T. Goodson, Chairman, Chief Executive Officer and President. "We are excited about the projects we are currently drilling in these long lived basins, and we expect to continue to increase our long life activity during 2007 and beyond."
PetroQuest Energy, Inc. is an independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in the Arkoma Basin, East Texas, South Louisiana and the shallow waters of the Gulf of Mexico. PetroQuest trades on the New York Stock Exchange under the ticker symbol "PQ."