Petroquest (PQ) | TigerDroppings.com

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Lsut81
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Member since Jun 2005
65332 posts

Petroquest (PQ)



What is the boards feelings on this company? Its currently at 4.48. Was as high at $9 this winter before a major plummet.

Looks like their recent numbers are trending in the right direction and some analyst think its estimates should be around $9 for the year












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BACONisMEATcandy
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re: Petroquest (PQ)


I worked for them for 2 summers





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Lsut81
USA Fan
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re: Petroquest (PQ)


quote:

I worked for them for 2 summers



Was that before or after their stock was at $25?






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BACONisMEATcandy
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re: Petroquest (PQ)


before





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b-rab2
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Lafayette
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re: Petroquest (PQ)


Why did it fall so much?? They mostly offshore?





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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
4146 posts

re: Petroquest (PQ)


EDIT: Never mind, you commented on it....


This post was edited on 3/19 at 12:50 pm


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Lsut81
USA Fan
Member since Jun 2005
65332 posts

re: Petroquest (PQ)


quote:

See this thread and the exchange between I Love Bama and Greenhead22.


Yeah, I asked for clarity and Greenhead never got back to me.

Just curious, I'm really thinking about picking up a hundred shares and letting it ride






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OnTheBrink
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TN
Member since Mar 2012
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re: Petroquest (PQ)


I saw that you commented after I made it all the way down...





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Lsut81
USA Fan
Member since Jun 2005
65332 posts

re: Petroquest (PQ)


Like I said, unless I'm reading their P&L wrong, they are trending in the right direction... Major decline took place in the mid to second half of last year and their most recent statement shows a heavy decline in expenses.

Like he said, I am assuming they acquired some key areas during those time frames






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BACONisMEATcandy
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re: Petroquest (PQ)


quote:

Why did it fall so much?? They mostly offshore?


They were strictly offshore when I was there... They were bought out by someone shortly after I left I believe (07-09 guesstimate)






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GREENHEAD22
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LafayettebywayofBush
Member since Nov 2009
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re: Petroquest (PQ)


What was the question?

And Bacon, what did you do for them?






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GREENHEAD22
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Member since Nov 2009
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re: Petroquest (PQ)


They have since moved onto land, have a decent amount of acres in the in the MSLime play if I remember correctly.


This post was edited on 3/19 at 9:49 pm


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Lsut81
USA Fan
Member since Jun 2005
65332 posts

re: Petroquest (PQ)


quote:

What was the question?


Just wondering what the MTBs opinion was on the stock now that it is at $4.50

Like I said, was at $9 in November and $25 in 08'. Looks like there was a downward trend in their financials, but that has since turned around and is trending in the right direction.

Thinking of picking up a few hundred shares and letting it ride






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BACONisMEATcandy
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re: Petroquest (PQ)


quote:

And Bacon, what did you do for them?


Summer Hand (Roustabout) on Ship Shoal 72






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TigerDog83
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Member since Oct 2005
4222 posts

re: Petroquest (PQ)


I don't know about their MS Lime assets, but they've got two wells in the deep shelf play making 60 million a day and 1000 barrels a day gross (not sure what WI they own), and some horizontal Cotton Valley in East Texas. Pretty sure they have interests in some of the other south LA deep gas prospects being tested right now. They are probably in the same boat as a lot of the other debt drillers where they have to balance the line between servicing debt and making a profit developing natural gas at these cheap prices. I'm not sure if they have any good avenues to oil prospects or oil growth as that is where the money is for the foreseeable future. The Mississippi Lime has proven to be underwhelming compared to some of the projections a year ago.


This post was edited on 3/20 at 10:56 am


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GREENHEAD22
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LafayettebywayofBush
Member since Nov 2009
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re: Petroquest (PQ)


They do have acreage in ETX as well as the woodford. I havent payed to much attention to them lately but last I did they were still pretty light on liquids. And mcuh like TigerDog said I am not sure what prospects they have going and oil is where the $ is. I had heard they were trying to partner up with LLOG or another company in some of there deepwater project but never heard anything more on it.





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GREENHEAD22
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re: Petroquest (PQ)


I personally would do it but I am a homer when it comes to local independents.





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Lsut81
USA Fan
Member since Jun 2005
65332 posts

re: Petroquest (PQ)


quote:

I personally would do it but I am a homer when it comes to local independents.


I mean, I'm thinking worst case scenario I lose $50 bucks, but if it goes back up to its November numbers, I can double my money.






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GREENHEAD22
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Member since Nov 2009
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re: Petroquest (PQ)


I agree and if you want to look at the long run they are well positioned if/when the US starts exporting NG.





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Lsut81
USA Fan
Member since Jun 2005
65332 posts

re: Petroquest (PQ)


quote:

if you want to look at the long run they are well positioned if/when the US starts exporting NG.


Thats why I hit you up in the other thread. I saw you mention something about good leases that they were acquiring. Did a little reading on their recent financial statement and they expected costs of production to decline by 10-20% due to efficiency savings and then there was talk about about 6k acres they have acquired rights to.






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