PetroQuest Energy, Inc. recently initiated production from its Thibodeaux #1 discovery well at its La Cantera prospect (NRI – 17 percent) in South Louisiana. The well is currently flowing at a gross daily rate of approximately 470 barrels of oil, 875 barrels of natural gas liquids and 23,000 Mcf of gas.
The Company is also drilling at approximately 13,000 feet on the Broussard Estates #2, an unbooked development location for its La Cantera prospect. The well is expected to reach total depth of 18,900 feet late during the second quarter of 2012 and the Company has an approximate 24 percent working interest in this high impact well. In addition, the Company plans to commence a 3D seismic survey acquiring data over its Thunder Bayou prospect during the second quarter of 2012.