PetroQuest Energy (PQ) Posts Q1 GAAP Loss of $1.89/Share

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Go back to PetroQuest Energy (PQ) Posts Q1 GAAP Loss of $1.89/Share

PetroQuest Energy Announces First Quarter 2015 Results And Provides Operations Update

May 4, 2015 4:06 PM EDT

LAFAYETTE, La., May 4, 2015 /PRNewswire/ -- PetroQuest Energy, Inc. (NYSE: PQ) today announced a net loss to common stockholders for the quarter ended March 31, 2015 of ($122,240,000), or ($1.89) per share, compared to first quarter 2014 net income available to common stockholders of $10,043,000, or $0.15 per share. During the first quarter of 2015, the Company recorded a non-cash ceiling test write-down of  $108,911,000 as a result of the impact of lower commodity prices on its net discounted cash flows from its proved reserves.

Discretionary cash flow for the first quarter of 2015 was $10,606,000, as compared to $34,488,000 for the comparable... More