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Last $2.34 USD
Change Today +0.04 / 1.74%
Volume 560.4K
PQ On Other Exchanges
Symbol
Exchange
Berlin
New York
As of 8:04 PM 04/1/15 All times are local (Market data is delayed by at least 15 minutes).

petroquest energy inc (PQ) Snapshot

Open
$2.31
Previous Close
$2.30
Day High
$2.39
Day Low
$2.28
52 Week High
06/30/14 - $7.82
52 Week Low
03/16/15 - $1.95
Market Cap
154.1M
Average Volume 10 Days
774.1K
EPS TTM
$0.40
Shares Outstanding
65.9M
EX-Date
--
P/E TM
5.9x
Dividend
--
Dividend Yield
--
Current Stock Chart for PETROQUEST ENERGY INC (PQ)

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petroquest energy inc (PQ) Details

PetroQuest Energy, Inc. operates as an independent oil and gas company. The company is involved in the acquisition, exploration, development, and operation of oil and gas properties in Oklahoma and Texas, as well as onshore and in the shallow waters offshore the Gulf Coast Basin. As of December 31, 2014, it had estimated proved reserves of 2.4 thousand barrels of oil, 73.5 billion cubic feet equivalent of natural gas liquids, and 309 billion cubic feet of natural gas. The company was founded in 1983 and is headquartered in Lafayette, Louisiana.

141 Employees
Last Reported Date: 03/6/15
Founded in 1983

petroquest energy inc (PQ) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $617.3K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $354.6K
Chief Operating Officer
Total Annual Compensation: $419.2K
Executive Vice President of Operations and Pr...
Total Annual Compensation: $364.6K
Executive Vice President of Business Developm...
Total Annual Compensation: $354.6K
Compensation as of Fiscal Year 2013.

petroquest energy inc (PQ) Key Developments

PetroQuest Energy, Inc. and PetroQuest Energy, L.L.C. Enter into the Tenth Amendment to Credit Agreement

On March 27, 2015, PetroQuest Energy Inc. and PetroQuest Energy, L.L.C. (the Borrower), entered into the Tenth Amendment to Credit Agreement (the Tenth Amendment"), 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, that certain Fourth Amendment to Credit Agreement dated as of October 3, 2011, that certain Fifth Amendment to Credit Agreement dated as of March 29, 2013, that certain Sixth Amendment to Credit Agreement dated as of June 19, 2013, that certain Seventh Amendment to Credit Agreement dated as of March 31, 2014, that certain Eighth Amendment to Credit Agreement dated as of September 29, 2014, and that certain Ninth Amendment to the Credit Agreement dated as of February 26, 2015, with JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Capital One, N.A., Iberiabank, Bank of America, N.A. and The Bank of Nova Scotia (collectively, Lenders"). Pursuant to the Tenth Amendment, the Lenders have agreed to amend the minimum ratio of consolidated current assets to consolidated current liabilities financial covenant to be 0.75 to 1.0 as of the last day of the fiscal quarters ending March 31, 2015 and June 30, 2015, and 1.0 to 1.0 as of the last day of any fiscal quarter ending thereafter, and decrease the Borrowing Base, as defined in the Credit Agreement, from $220.0 million to $190.0 million (subject to the aggregate commitments of the Lenders then in effect, which was unchanged at $170.0 million). 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 aforementioned decrease in the Borrowing Base constituted the Scheduled Redetermination (as defined in the Credit Agreement) of the Borrowing Base scheduled for on or about March 31, 2015. As of March 30, 2015, the Borrower had $85 million of outstanding borrowings under (and no letters of credit issued pursuant to) the Credit Agreement.

PetroQuest Energy Inc. Announces Consolidated Earnings and Production Results for Fourth Quarter and Full Year Ended Dec. 31, 2014; Provides Earnings Guidance for the First Quarter of 2015

PetroQuest Energy Inc. announced consolidated earnings results for fourth quarter and full year ended Dec. 31, 2014. For the quarter, the company reported oil and gas sales of $47,988,000, income from operations of $478,000, net income available to common stockholders of $1,745,000 or $0.03 per diluted share compared to the oil and gas sales of $53,174,000, income from operations of $4,370,000, net income available to common stockholders of $2,291,000 or $0.04 per diluted share for the same quarter a year ago. Net cash provided by operating activities were of $52,347,000 compared to $26,945,000 a year ago. For the year, the company reported oil and gas sales of $225,021,000, income from operations of $28,249,000, net income available to common stockholders of $26,051,000 or $0.39 per diluted share compared to the oil and gas sales of $182,804,000, income from operations of $14,402,000, net income available to common stockholders of $8,943,000 or $0.14 per diluted share for the previous year. Net cash provided by operating activities were of $178,208,000 compared to $59,854,000 a year ago. Investment in oil and gas properties of $174,633,000 compared to $298,824,000 a year ago. Investment in other property and equipment were of $926,000 compared to $1,679,000 a year ago. The company reported production results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company expects total production of 11,249,921 Mcfe compared to 10,221,285 Mcfe a year ago. For the year, the company expects total production of 43,325,035 Mcfe compared to 38,065,946 Mcfe a year ago. The company provided guidance for the first quarter of 2015. For the quarter, the company expects production volumes of 113 to 117 MMcfe/d. The company expects interest expense of $7 million to $7.5 million.

PetroQuest Energy, Inc. and PetroQuest Energy, L.L.C. Enter into Ninth Amendment to Credit Agreement

On February 26, 2015, PetroQuest Energy Inc. and PetroQuest Energy, L.L.C. entered into the Ninth 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, that certain Fourth Amendment to Credit Agreement dated as of October 3, 2011, that certain Fifth Amendment to Credit Agreement dated as of March 29, 2013, that certain Sixth Amendment to Credit Agreement dated as of June 19, 2013, that certain Seventh Amendment to Credit Agreement dated as of March 31, 2014, and that certain Eighth Amendment to Credit Agreement dated as of September 29, 2014 (collectively, the Credit Agreement"), with JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Capital One, N.A., Iberiabank, Bank of America, N.A. and The Bank of Nova Scotia. Pursuant to the Ninth Amendment, the Lenders have agreed to amend certain restrictive financial covenants to which the Company and its subsidiaries are subject by (i) removing the maximum ratio of total debt to EBITDAX, determined on a rolling four quarter basis, of 3.5 to 1.0 and replacing it with a maximum ratio of total senior secured debt to EBITDAX, determined on a rolling four quarter basis, of 2.25 to 1.0, and (ii) adding a minimum ratio of EBITDAX to total cash interest expense, determined on a four quarter basis as of the end of each fiscal quarter beginning with the fiscal quarter ended March 31, 2015, of 2.0 to 1.0, all as defined in the Credit Agreement.

 

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Industry Analysis

PQ

Industry Average

Valuation PQ Industry Range
Price/Earnings 5.9x
Price/Sales 0.7x
Price/Book 2.2x
Price/Cash Flow 1.3x
TEV/Sales NM Not Meaningful
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