PetroQuest Energy Inc. (NYSE: PQ) released the latest results from its horizontal Cotton Valley drilling program in East Texas on Feb. 20.
The company recently completed two wells (PQ #29 - 52% NRI and PQ #30 - 59% NRI), which established a cumulative maximum 24-hour gross daily rate of 18,385 million cubic feet (MMcf) of gas, 1,354 barrels (bbl) of NGL and 55 bbl of oil, for an equivalent rate of 26,839 MMcf/d of equivalent.
The company estimates these two wells had an average drill and complete cost of $887 per lateral foot.
The company is in the process of evaluating various joint venture structures in connection with planning its 2018 Cotton Valley drilling program.
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