PetroQuest Energy, L.L.C. acquires and explores oil and natural gas properties in Gulf Coast basin and offshore Gulf of Mexico. The company was formerly known as PetroQuest Energy One, L.L.C. and changed its name to PetroQuest Energy, L.L.C. in December 2000. The company was incorporated in 1995 and is based in Lafayette, Louisiana. PetroQuest Energy, L.L.C. operates as a subsidiary of PetroQuest Energy Inc.
400 East Kaliste Saloom Road
Lafayette, LA 70508
Founded in 1995
PetroQuest Energy, Inc. and PetroWuest Energy, L.L.C. Enters into the Seventh Amendment to Credit Agreement
Mar 31 14
On March 31, 2014, PetroQuest Energy Inc. and PetroQuest Energy, L.L.C. entered into the Seventh Amendment to Credit Agreement. Pursuant to the Seventh Amendment, the Lenders have agreed to modify the negative covenant contained in the Credit Agreement regarding Swap Agreements and certain other provisions related to such covenant, reaffirm the Borrowing Base at $200 million and add Bank of America, N.A. and The Bank of Nova Scotia as new Lenders under the Credit Agreement.
PetroQuest Energy Inc. and PetroQuest Energy, L.L.C. Enter into Fifth Amendment to Credit Agreement
Mar 29 13
On March 29, 2013, PetroQuest Energy Inc. and PetroQuest Energy, L.L.C. (borrower) entered into the fifth amendment to credit agreement which amends the credit agreement dated as of October 2, 2008, as amended by that certain first amendment to credit agreement dated as of March 24, 2009, that certain second amendment to credit agreement dated as of September 30, 2009, that certain third amendment to credit agreement dated as of August 5, 2010, and that certain fourth amendment to credit agreement dated as of October 3, 2011 with JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Capital One, N.A., IBERIABANK and Whitney Bank (collectively the lenders). The fifth amendment (i) increases the borrowing base, from $130 million to $150 million; and (ii) permits the Eagle Ford Sale, and provides that the Eagle Ford Sale and the Eagle Ford Assets be disregarding for purposes of determining whether an automatic reduction in the borrowing base is required pursuant to the credit agreement, subject to certain conditions, including that the Eagle Ford Sale be consummated on or prior to September 30, 2013. The aggregate commitments of the lenders are currently $100 million and can be increased to up to $300 million by either adding new lenders or increasing the commitments of the lenders, subject to certain conditions. The borrowing base is based upon the valuation as of January 1 and July 1 of each year of the reserves attributable to the company’s and its subsidiaries’ oil and gas properties and other credit factors deemed relevant by the lenders. The lenders and the borrower agreed that the increase in the borrowing base constituted the Scheduled Redetermination, of the borrowing base scheduled for on or about March 31, 2013.