Lafayette-based PetroQuest Energy Inc. announced Monday it increasing its first-quarter to the equivalent of 81 million to 82 million cubic feet of natural gas per day.
PetroQuest’s earlier guidance was the equivalent of 72 million to 76 million cubic feet of gas. The midpoint of the revised guidance is roughly a 12 percent increase.
Roughly 73 percent of the expected production will be gas, 11 percent oil and 16 percent natural gas liquids, which include propane, butane and ethane.
“To be able to increase production guidance without an increase in capital investment underscores the quality of our producing assets,” said Charles T. Goodson, chairman, chief executive officer and president.