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News Breaks
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October 27, 2009
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| 16:48 EDT |  | STR |
| theflyonthewall.com: | Questar announces acquisitions and provides production forecasts | | Questar subsidiary Questar Exploration and Production Company provided an update on the company’s leasing and acquisition activity in the Haynesville Shale play, recent well results and initial drilling plans for 2010 in its core operating areas. Questar E&P also provided 2009 and 2010 natural gas and oil-equivalent production guidance and capital expenditure forecasts. Through a series of acquisitions and ongoing leasing activity, Questar E&P has increased its net leasehold position in the core of the Haynesville Shale play in NW Louisiana to approximately 43,000 net acres. For the third quarter of 2009, Questar E&P net production was 43.8 Bcfe, or an average of 476 MMcfe per day. Cumulative net production through the third quarter of 2009 was 134.1 Bcfe. Third-quarter production volumes were reduced by continued price-related voluntary curtailments from Q2, as the company deferred completion of new wells, curtailed production and shut-in production from some existing wells. The company has reduced curtailments in the fourth quarter, and forecasts net production for 2009 will range between 183 and 186 Bcfe. :theflyonthewall.com |
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