Key Developments: PetroQuest Energy Inc (PQ.N)

PQ.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Petroquest Energy Inc Announces Closings Of $200 Million Private Placement Of 10.00% Senior Notes Due 2017; Closes Gulf of Mexico Acquisitions
Wednesday, 3 Jul 2013 04:48pm EDT 

Petroquest Energy Inc announced the closing of its previously announced private offering under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the "Securities Act"), of $200 million aggregate principal amount of 10% Senior Notes due 2017 (the New Notes). The New Notes were issued at a price equal to 100% of their face value plus accrued interest from March 1, 2013. The New Notes have terms that, subject to certain exceptions, are substantially identical to the Company's existing $150 million aggregate principal amount of 10% Senior Notes due 2017. The net proceeds from the offering were used to finance the approximately $192 million purchase price of the Company's previously announced acquisitions of certain producing oil and gas assets located in the shallow waters of the Gulf of Mexico (collectively, the Gulf of Mexico Acquisitions). The Gulf of Mexico Acquisitions also closed on July 3, 2013.  Full Article

Petroquest Energy Inc Announces Pricing Of $200 Million Of 10% Senior Notes Due 2017
Friday, 28 Jun 2013 02:04pm EDT 

Petroquest Energy Inc announced that private offering of $200 million aggregate principal amount of 10% Senior Notes due 2017 (the New Notes). The notes will be issued at a price equal to 100% of their face value plus accrued interest from March 1, 2013. The New Notes will have terms that, subject to certain exceptions, are substantially identical to the Company's existing $150 million aggregate principal amount of 10% Senior Notes due 2017. The Company expects to close the sale of the New Notes on July 3, 2013, subject to the satisfaction of customary closing conditions. Subject to certain special redemption provisions, the Company intends to use the net proceeds from the offering to fund the purchase price of the Company's previously announced proposed acquisition of certain producing oil and gas assets located in the shallow waters of the Gulf of Mexico from Hall-Houston Exploration II, L.P., Hall-Houston Exploration III, L.P., Hall-Houston Exploration IV, L.P. and GOM-H Exploration, LLC (the "Acquisition") for approximately $193 million in cash and, to the extent any net proceeds remain after such use, for general corporate purposes.  Full Article

Petroquest Energy Inc Announces $200 Million Private Placement Of 10% Senior Notes Due 2017
Tuesday, 25 Jun 2013 02:43pm EDT 

Petroquest Energy Inc announced that, subject to market conditions, it intends to offer for sale $200.0 million in aggregate principal amount of 10% Senior Notes due 2017 (the New Notes) in a private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the Securities Act), to eligible purchasers. The New Notes are expected to have terms that, subject to certain exceptions, are substantially identical to the Company's $150.0 million aggregate principal amount of existing 10% Senior Notes due 2017. The Company intends to use the net proceeds from the private placement to fund the purchase price of the Company's previously announced proposed acquisition of certain producing oil and gas assets located in the shallow waters of the Gulf of Mexico from Hall-Houston Exploration II, L.P., Hall-Houston Exploration III, L.P., Hall-Houston Exploration IV, L.P. and GOM-H Exploration, LLC (the Acquisition) for approximately $193 million in cash. The Acquisition is expected to close on or about July 3, 2013, subject to customary closing conditions. The private placement is not a condition to the closing of the Acquisition.  Full Article

Petroquest Energy Inc Issues FY 2014 Production Guidance-Conference Call
Thursday, 20 Jun 2013 09:30am EDT 

Petroquest Energy Inc announced that for fiscal 2014, it expects oil production to average over 2,800 barrels a day.  Full Article

Petroquest Energy Inc Announces Acquisition Of Shallow Water Gulf Of Mexico Assets
Wednesday, 19 Jun 2013 04:32pm EDT 

Petroquest Energy Inc announced that it has entered into definitive agreements to acquire certain shallow water Gulf of Mexico producing properties (the Acquired Assets) for approximately $193 million in cash. The transactions will be effective as of January 1, 2013 and are expected to close in July 2013, subject to customary closing conditions.  Full Article

Petroquest Energy Inc Issues FY 2013 Production Guidance
Tuesday, 5 Feb 2013 04:01pm EST 

Petroquest Energy Inc announced that for fiscal 2013, it expects production to average between 90 and 95 MMcfe per day with approximately 80%, 8% and 12% to be derived from natural gas, oil and natural gas liquids.  Full Article

Petroquest Energy Inc Announces Sale Of Fayetteville Assets
Monday, 7 Jan 2013 03:08pm EST 

Petroquest Energy Inc announced that on December 31, 2012, the Company completed the sale of its Fayetteville Shale assets (100% non-operated) located in Arkansas for net proceeds of approximately $9.2 million, subject to customary post-closing adjustments.  Full Article

Petroquest Energy Inc Issues Q4 2012 Production Guidance
Wednesday, 7 Nov 2012 05:30am EST 

Petroquest Energy, Inc. announced that for the fourth quarter of 2012, it expects production volumes of 94-98 MMcfe/d.  Full Article

Petroquest Energy Inc Updates Q3 2012 Production Guidance
Tuesday, 30 Oct 2012 07:02am EDT 

Petroquest Energy Inc announced that it estimates that between 0.1 and 0.2 Bcfe of net production was deferred from the third quarter of 2012 as a result of down-time caused by Hurricane Isaac. No damage occurred at any of the Company's Gulf Coast properties and all production has been restored to pre-storm levels. In addition, as a result of extended third party pipeline downtime, the Company experienced a delay in initiating production from the second La Cantera well and the La Cantera field has been flowing at restricted production rates since the pipeline became operational. As a result, the Company expects its third quarter 2012 production to be slightly above 92 Mmcfe per day, which is within the range of its previously issued production guidance.  Full Article

Petroquest Energy, Inc. Issues Q3 2012 Production Guidance; Raises FY 2012 Production Guidance
Thursday, 2 Aug 2012 06:30am EDT 

Petroquest Energy, Inc. announced that for the third quarter of 2012, it expects production volumes of 92-97 MMcfe/d. For fiscal 2012, the Company now expects production volumes of 92-97 MMcfe/d.  Full Article

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