PetroQuest Energy (NYSE:PQ) reported on its Mississippi Lime development program for the third quarter of 2012. The company has completed seven additional Mississippi Lime wells on its acreage in Pawnee County, Oklahoma, with the following production rates:
PQML #5 – 451 barrels of oil equivalent (BOE) – and a 73% crude oil content.
PQML #7 – 227 BOE and a 67% crude oil content.
PetroQuest Energy said that the PQML #3 and PQML #4 wells have been online for 100 days and produced large amounts of water. The company is attempting to isolate the water bearing intervals which are believed to come from the Arbuckle zone.
PetroQuest Energy has also completed Mississippi Lime wells in Kay and Grant counties and these wells are currently flowing back.