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PetroQuest makes significant natural gas find in Thunder Bayou prospect

PetroQuest Energy, Inc. announced in a press release this week that its efforts in the Thunder Bayou prospect have yielded a “significant discovery.” The company has discovered a natural gas payzone in the prospect, which lies in Vermilion Parish in southern Louisiana.

The project is just two miles north of PetroQuest’s La Cantera project, another successful endeavor which began production in 2012. According to the press release, the Lafayette-based company has roughly a 50 percent working interest in the project, as well as a 37 percent net revenue interest.

The Company expects to commence production from its Thunder Bayou discovery well in the second quarter of 2015 at a gross daily rate of approximately 25,000 – 30,000 Mcf of gas plus associated oil and natural gas liquids, which will be determined during the upcoming well test. Thunder Bayou’s land location will allow for production to be established quickly with significantly lower facilities costs as compared to La Cantera’s wet marshland location.

The company has developed a 70 percent success rate in the Gulf Coast area over the course of the past decade or so. Matt Quantz, the manager of corporate communications, said the Thunder Bayou project is one of the most impactful projects that PetroQuest has ever had, according to Ken Stickney for The Advertiser.

In related news, PDC to pause Utica operations.

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