PetroQuest Energy (PQ) issued a second quarter of 2010 operations update on its activities in the Woodford Shale. The company recently completed the PG 37 and PQ 38 wells here but did not report initial production rates because the wells were not on line long enough.
PetroQuest Energy has reached total depth on the PQ 39 and is close to total depth on the PQ 40 well in the Woodford Shale. Another well will be spud from the same pad that the PQ 40 well was drilled from. Total net production from the Oklahoma Woodford Shale is 30 million cubic feet equivalent per day.
PetroQuest Energy expects to complete the PQ 39, PQ 40 and PQ 41 well during the fourth quarter of 2010. The company is adding a third rig before the end of 2010.