PetroQuest Energy Inc. is increasing its first quarter 2016 production guidance. It will range between 81 million cubic feet equivalent per day (MMcfe/d) and 82 MMcfe/d, 73% gas, 11% oil and 16% NGL, the company said March 28.
The previous guidance was between 72 MMcfe/d and 76 MMcfe/d.
The midpoint of the revised guidance represents an increase of about 12% from the fourth-quarter 2015 production rate.
Charles T. Goodson, chairman, CEO and president, said that the most recent Cotton Valley wells and Thunder Bayou continue outperforming expectations and were the primary drivers for first-quarter 2016’s better-than-expected production rate.
PetroQuest Energy, Inc. is based in Lafayette, La.
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