LAFAYETTE, La., June 19, 2013 /PRNewswire/ -- PetroQuest Energy, Inc. (PQ) announced today 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. Transaction Overview Average daily net production from the Acquired Assets in May 2013 is estimated to be approximately 1,100 Bbls of oil and 19,000 Mcf of natural gas. The Company expects to operate approximately 80% of the production associated with the Acquired Assets. Based on a...
↧