offshore

PetroQuest Energy Announces Sale of Gulf of Mexico Assets

PetroQuest Energy, Inc. (NYSE:PQ) today announced the sale of its Gulf of Mexico properties (the “Sold Assets”) on January 31, 2018, but effective as of December 1, 2017. As a result of the sale, the Company has eliminated an approximate $35.4 million undiscounted abandonment liability from its long-term obligations.  The Company received no proceeds from the sale of these properties and is required to contribute $3.75 million towards future abandonment