PetroQuest Energy, Inc. (ticker: PQ) has new results from its horizontal Cotton Valley drilling program in East Texas.
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 Mcf of gas, 1,354 barrels of NGLs and 55 barrels of oil, for an equivalent rate of 26,839 Mcfe/d.
The initial maximum 24-hour gross daily rates and certain additional operating data per well were as follows:
| Well | Max 24-Hour Mcfe/d | Lateral Length (ft) | Lbs Proppant/foot | Cluster Spacing (ft) | Bench Tested |
| PQ #29 | 15,371 | 6,250 | 772 | 101 | E-Berry |
| PQ #30 | 11,469 | 5,382 | 759 | 101 | E-Berry |
PetroQuest 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.
