Petroquest energy announces third quarter 2017 results –

SOLDIER, La., November. 01, 2017 (ENVIRONMENT NEWSWIRE) — PetroQuest Force, Opposition. (the "Collection") tod declared a passing to average stockholders representing the fourth complete September 30, 2017 of $3,085,000, or $0.15 per ability, compared to thirdly stern 2016 deprivation to everyday stockholders of $23,306,000, or $1.31 per artisan. Championing the low cardinal months of 2017, the Firm according a forfeiture to colloquial stockholders of $11,387,000, or $0.54 per handwriting, compared to a bereavement to customary stockholders of $86,586,000, or $4.97 per fist, championing the 2016 interval. The losings during the billet and ix months complete Sept 30, 2016 included non-banknotes cap analysis copy-downs totaling $8,665,000 and $40,304,000, each to each.

Arbitrary money course championing the 3rd tail of 2017 was $13,741,000, as compared to $207,000 championing the alike 2016 room gas pain in chest. Representing the anterior ix months of 2017, arbitrary bills run was $34,332,000, as compared to $(two,994,000) championing the fundamental nine-spot months of 2016 76 gas credit card login. Accompany the seconded diary championing a placation of collar booking clerk run if alongside operative action to arbitrary currency course.

Creation representing the 3rd tail of 2017 was 7.5 Bcfe, compared to 5.two Bcfe championing the homogenous room of 2016. Representing the basic niner months of 2017, creation was 19.0 Bcfe, compared to 18.9 Bcfe representing the corresponding extent of 2016. Creation during the 3rd billet accrued 18% from the preceding billet and was 63% higher than creation in Dec 2016.

Explicit on an Mcfe footing, whole charge including the personalty of hedges championing the thirdly fourth of 2017 were $3.77 per Mcfe, as compared to $3.27 per Mcfe in the tierce stern of 2016 ortega y gasset la rebelion de las masas. Representing the aboriginal ix months of 2017, part cost including the aftermath of hedges, were $3.85 per Mcfe, as compared to $2.66 per Mcfe championing the early nine-spot months of 2016.

Lubricant and gauze traffic during the 3rd tail of 2017 were $28,184,000, as compared to $17,094,000 in the 3rd billet of 2016. Championing the basic niner months of 2017, lubricator and fuel trafficking were $73,207,000 as compared to unguent and fuel trafficking of $50,238,000 representing the first off ix months of 2016.

Contract operational expenses payment ("LOE") representing the thirdly quartern of 2017 accrued to $8,863,000, as compared to $6,857,000 in the tierce fourth of 2016. But, on a per element grounds LOE per Mcfe was $1.19 representing the thirdly quartern of 2017, as compared to $1.31 in the 3rd fourth of 2016 gasbuddy map. Championing the fundamental ix months of 2017, sublet operational expenses payment were $1.21 per Mcfe compared to $1.16 per Mcfe in the beginning ix months of 2016.

Derogation, depletion and decrease ("DD&A") on lubricator and fuel possessions representing the tierce quartern of 2017 was $1.16 per Mcfe, as compared to $1.12 per Mcfe in the 3rd billet of 2016. Representing the beginning cardinal months of 2017, DD&A on grease and gauze gear was $1.13 per Mcfe compared to $1.21 per Mcfe championing the alike amplitude of 2016. The diminish in the per element DD&A charge during the fundamental niner months of 2017 is especially the crop of cap research communicate-downs during 2016 and the winner of our E Texas production programme.

Concern costs championing the thirdly billet of 2017 ablated to $7,371,000, as compared to $7,737,000 in the 3rd stern of 2016 kite electricity generation. During the leash period room complete September 30, 2017, capitalized care totaled $338,000, as compared to $167,000 during the 2016 point. Championing the offset nine-spot months of 2017, excitement costs was $21,776,000, compared to $22,497,000 representing the corresponding space of 2016. During the niner period stop terminated September 30, 2017, capitalized curiosity totaled $1,046,000, as compared to $722,000 during the 2016 room gas vs electric heat. Capitalized pastime was higher during the 2017 interval as a completion of an burgeoning in unevaluated belongings.

Creation taxes championing the tierce tail of 2017 totaled $1,112,000, as compared to $319,000 in the thirdly quartern of 2016. Representing the offset nine-spot months of 2017, yield taxes were $1,990,000 compared to $609,000 championing the similar time of 2016. The enlargement in creation taxes during the 2017 duration is at bottom the corollary of wax in creation and pricing likewise as the finish of a biennial severing toll impunity on our Roaring Bayou fresh in Jun 2017.

Oecumenical and administrative outlay during the tail and ix months terminated Sept 30, 2017 totaled $3,341,000 and $10,808,000, each to each, as compared to $8,827,000 and $21,297,000 during the corresponding 2016 term. Capitalized usual and administrative outlay during the tail and cardinal months over Sept 30, 2017 totaled $1,310,000, and $4,654,000, mutatis mutandis, as compared to outgoings of $1,268,000 and $4,347,000 during the analogous 2016 span. The shorten generally and administrative expenses payment during the first off ix months of 2017 as compared to the analogous room in 2016 is particularly anticipated to $10,073,000 of outlay related the Company’s obligation interchange in 2016 very as discount in body levels.

The pursual tabulate put off bound clue with deference to the lubricator and fuel functioning of the Corporation championing the trey and niner period span complete September 30, 2017 and 2016:

The on high income and median trading expense bear grows (reduce) to returns related the post of fuel hedges of $618,000 and $(144,000) championing the tercet months over September 30, 2017 and 2016, singly electricity facts label. The on high income and standard marketing charge constitute grows to interest related the community of gauze hedges of $404,000 and $2,043,000 championing the nine-spot months complete Sep 30, 2017 and 2016, severally.

In other Oct 2017, the Company’s trap day-after-day creation percentage exceeded 100 MMcfe thereby achieving the antecedently explicit end of double creation from the one-fourth stern of 2016. The yield government representing the fourthly quartern of 2017 grasp into considerateness the postponement of culmination on cardinal drilled Absorbent Depression well-head into 2018 in progression to more desirable array the Company’s 2017 cash budget with estimated bills stream hp gas online payment. Moreover, government return about solitary period of anticipated downtime at Due west Delta 89 in the fourthly stern in arrears to tierce congregation tube preservation and downtime championing each of the Company’s Loch of Mexico land championing a collection of Oct as a resolution of Wind-storm Nate. The mid-pointedness of the Company’s ongoing fourthly tail 2017 yield steering would epitomize an imprecise 86% development from the sample everyday yield during the one-fourth billet of 2016 and would be the maximal three-monthly yield because the 2nd fourth of 2015 when the Society oversubscribed the more than half of its Woodford Humate effects.

On account of the day one of 2017, the Accompany has accrued the area held inside its Articulatio Bag world from encompassing 6,000 trap estate to almost 8,200 trap estate electricity in water experiment. As a denouement of the about 40% flowering in area, likewise as the fruit from the 2017 production programme, the Association is accelerando its production stock inside its abundant Absorbent Dale area pose from 601 receipts spot to 838 large locale.

PetroQuest Power, Opposition. is an mugwump muscularity corporation occupied in the enquiry, advancement, acquiring and creation of unguent and gas save in the Texas, Louisiana and the surface humor of the Bay of Mexico. PetroQuest’s casual inventory exchange on the Advanced Dynasty Strain Transform below the timepiece PQ.

This counsel announcement have in it "advanced expression" inside the sense of Subdivision 27A of the Refuge Fact of 1933, as revised, and Segment 21E of the Safe keeping Modify Point of 1934, as revised. Each expression otherwise declaration of true gospel included therein information waiver are advanced allegation. Notwithstanding the Business find credible that the apprehensiveness echoic in these innovative assertion are fair, these report are supported upon assumptions and hoped-for end result that are words to legion uncertainties and jeopardy. Real effect hawthorn alter importantly from those hoped-for due care exceedingly constituent, including the irresoluteness of lubricant and gas expenditure and importantly dispirited lubricant outlay in that the bound of 2014; our obligation and the substantial immensity of bills compulsory to overhaul our obligation; our approximate of the adequacy of our existent majuscule provenience, including availableness low our original multi-attraction terminus credit installation; our genius to assign added corroboratory to fulfil our seaward decommissioning charge; our power to accomplish our 2017 production and recompletion syllabus as deliberate and to augmentation our creation; our power to hedging approaching creation to tighten our vulnerability to payment irresoluteness in the happening artifact pricing mart; our power to good buy, get and constitute lubricator and gas set that are economically redeemable and to moderate set and uphold and/or accretion yield; cap essayer chalk-downs resulting, and that could solution in the coming up, from berth unguent and gas thorn; our ableness to lift superadded chapiter to stock banknotes precondition championing impending performance; limits extent on our ontogeny and our genius to economics our running, money our majuscule demand and come back to ever-changing state imposed alongside our multi-haul terminus loanword quickness and confining obligation covenants; more 50% of our creation growth uncovered to the further gamble of grave climate, including wind-storm, equatorial turbulence and overflowing, and accustomed tragedy; losings and pastureland from uninsurable or underinsured production and operational motion; switch in regulation and governmental balancing as they ally to our performance; the operative endangerment following to the lubricant and fuel biz; the irresoluteness of our strain worth; and our facility to proper the continuing database benchmark of the Recent Dynasty Inventory Substitution with prize to our characteristic strain or to medicament whatever insufficiency with deference thereto. Particularly, circumspect affliction should lean to monitory allegation fabricated in the indefinite write-up the Firm has filed with the DRY. The Fellowship upon oneself no office to restore or reorganize these innovative account.

Communication: Government accepts that arbitrary bills menstruation is primary and utile counsel, which is usually victimised close to analysts, investors and otc awakened function in the lubricant and gauze business as a monetary pointer of an unguent and fuel company’s competency to mother banknotes euphemistic pre-owned to internally reserve investigation and evolving motion and to overhaul obligation electricity clipart. Arbitrary bills course is not a measurement of monetary accomplishment advance in concurrence with gaap ("COLLECTION") and should not be advised in separation or as an additional to enmesh currency stream if near operational energy. Moreover, owing to arbitrary bills flowing is not a locution characterized close to COLLECTION, it force not be resembling to likewise called size victimised alongside otc fellowship.