10 Best Stocks To Invest In 2014
Independent energy firm, PetroQuest Energy Inc. (PQ), declared that it has closed the offering of 10.0% senior notes worth $200.0 million, maturing in 2017. The notes were offered to select investors through private placement.PetroQuest Energy had issued the notes at 100% of their face value plus accrued interest since Mar 1, 2013. The company has utilized the net proceeds from this offering to fund its recently concluded acquisition of some oil and gas producing properties, which are based in the Gulf of Mexico's shallow water area. The acquisition price of the assets was roughly $192.0 million.
PetroQuest Energy's first-quarter 2013 earnings per share came in at 4 cents, surpassing the Zacks Consensus Estimate of 2 cents by 100.0%. The better-than-expected result was mainly due to the improvement in the total daily production along with significantly lower depreciation, depletion and amortization expenses.
Lafayette, LA-based PetroQuest Energy engages in acquiring, producing, exploring and developing natural gas and oil reserves, which are located in the Arkoma Basin, East Texas, South Louisiana and the Gulf of Mexico's shallow water area.
PetroQuest Energy currently retains a Zacks Rank #1 (Strong Buy), implying that it is expected to significantly outperform the broader U.S. equity market over the next one to three months.
Other operators apart from PetroQuest Energy in the exploration and production sector with a favorable Zacks Rank are Oasis Petroleum Inc. (OAS), Sanchez Energy Corp. (SN) and Sandridge Mississippian Trust II (SDR). All the three companies presently carry a Zacks Rank #1 (Strong Buy).
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