PetroQuest Energy (PQ) Announces 2009 Q3 Results

PetroQuest Energy, Inc. (NYSE: PQ) announced net income available to common stockholders for the quarter ended September 30, 2009 of $4.453M, or $0.07 per share, compared to third quarter 2008 net income available to common stockholders of $16,758,000, or $0.32 per share. For the first nine months of 2009, the Company reported net loss available to common stockholders of $54.758M, or $1.03 per share, compared to net income available to common stockholders of $52.694M, or $1.01 per share, for the first nine months of 2008. The net loss for the 2009 period was primarily the result of a non-cash ceiling test writedown of $103.6M recorded during the first quarter of 2009.

PetroQuest Energy (PQ)is an independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in the Arkoma Basin, East Texas, South Louisiana and the shallow waters of the Gulf of Mexico.