Charles Goodson, CEO; Earnings call (March 5, 2018)
"Another significant accomplishment occurred in the end of 2017 with our entry into the emerging Louisiana, Austin Chalk trends. This reemerging world play now stretches across the entire central section of Louisiana encompassing at least 8 parishes. Several premier large cap operators and a number of very experienced private independents have established substantial leasehold positions. PetroQuest, as an early mover in this trend, was able to secure approximately 25,000 acres in what we believe will ultimately be determined as the core of the highest oil concentrated portion of the trend."
"What highlights the dramatic impact fracking had on the Eagles Ranch well is that the toe is located only approximately 1,200 feet from the heel of the Dominique well, which was completed without a frac by Anadarko in 2010 and cumulated only 14,000 barrels of oil, that’s a 5x uplift in production in just a little over three months. We believe that when fracking is applied to this formation and a Matrix porosity has the opportunity to contribute along with the natural fractures. This completely changes the performance of this formation. This is why we and others are guardedly optimistic about the future development this time around. We are currently in a permitting process of our initial well and expect to commence the location build-out in the next few months. Our current plans called for our initial well to spread in the second quarter of 2018. While very early, we feel the significant activity will occur as a result of the enormous leasing activity across Louisiana should result in a number of new data points relatively soon. All of which will come very experienced companies that points state-of-the-art technology."
Also, interesting Q&A section down the page..... PetroQuest Earnings Call Transcript
Can you show the core area, Where is their lease. Thanks
There is no core established. With just one new HZ fracked well, that is the only datapoint.
<This (lateral fracking) completely changes the performance of this formation>>>
Possibly that is the understatement of the year.