Niobrara Shale

PetroQuest Energy Reports Four Niobrara Shale Well Results

PetroQuest Energy (PQ) issued an operational update on the company’s operations in the Rocky Mountains area, where the company is involved in developing the Niobrara Shale.

PetroQuest Energy is involved with a Niobrara Shale well operated by SM Energy, and reported that the well a gross initial 24 hour production rate of 837 barrels of oil.  The company also reported the 24 hour gross production results of three non operated wells drilled by LoneStar:

McFarland – 1,605 barrels of oil

Davis – 211 barrels of oil

Hester – 201 barrels of oil

PetroQuest Energy reported that its initial drilling program of five Niobrara wells is now complete and no further activity will be taken until the results are evaluated.

PetroQuest Energy Working On Fourth Niobrara Shale Well

PetroQuest Energy (PQ) has 5,000 net acres in Wyoming exposed to the Niobrara Shale and a total of thirteen drilling locations on its acreage here.

PetroQuest Energy completed the Nevis # 2 Niobrara Shale well in November 2010 and has produced 43,000 barrels of oil to date from this well. The company plans between 10 and 15 gross wells in 2011 and is actively looking to lease more acreage here.

PetroQuest Energy said that the Hester #3 well is nearing total depth and will undergo completion operations in the second quarter of 2011. This is the company’s third well in the Niobrara Shale.  The Davis well was recently spud and is expected to reach total depth in early June 2011.