PetroQuest Energy (PQ) Defers Making Interest Payment on 2017 Notes; Says Liquidity is Sufficient

PetroQuest Energy Elects To Not Make Senior Notes Interest Payment And Enter Into 30 Day Grace Period

LAFAYETTE, La., Sept. 1, 2016 /PRNewswire/ -- PetroQuest Energy, Inc. (NYSE: PQ) announced today that, although it believes that it has current liquidity sufficient to make the approximately $6.8 million semi-annual interest payment due on September 1, 2016 with respect to its outstanding 10% Senior Notes due 2017 (the "2017 Notes"), it has elected not to do so at this time, pending the outcome of its Exchange Offers and Consent Solicitation described below. Non-payment of this interest would become an event of default under the indenture governing the 2017 Notes if the payment is not made within 30 days.... More