LAFAYETTE, La., Sept. 3, 2013 /PRNewswire/ -- PetroQuest Energy, Inc. (NYSE: PQ) announced today that on September 2, the Company's Executive Vice President - General Counsel, Chief Administrative Officer and Secretary, Daniel G. Fournerat, passed away suddenly at his home of natural causes at the age of 59.
Mr. Fournerat previously served as Senior Vice President, General Counsel and Secretary. He served on the Board of Directors of the Company from September 1998 until October 2001. Prior to joining PetroQuest in 2001, Mr. Fournerat practiced as an attorney for 24 years with the Lafayette, Louisiana law firm of Onebane, Bernard, Torian, Diaz, McNamara & Abell, primarily engaged in representing oil and gas exploration and production companies, sophisticated mineral owners and service companies in various facets of their Gulf Coast oil and gas activities.
Management Statement
"The Board of Directors, the Executive Management team and the entire PetroQuest staff are deeply saddened by the passing of this great man and would like to offer their condolences to the Fournerat family," said Charles T. Goodson, Chairman, Chief Executive Officer and President. "Dan was an integral part of the formation of PetroQuest and we will deeply miss his great leadership and guidance exhibited throughout the Company's 28 year history."
About the Company
PetroQuest Energy, Inc. is an independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in the Arkoma Basin, Wyoming, Texas, South Louisiana and the shallow waters of the Gulf of Mexico. PetroQuest's common stock trades on the New York Stock Exchange under the ticker PQ.
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those risks, trends and uncertainties are our ability to find oil and natural gas reserves that are economically recoverable, the volatility of oil and natural gas prices and significantly depressed natural gas prices since the middle of 2008, the uncertain economic conditions in the United States and globally, the declines in the values of our properties that have resulted in and may in the future result in additional ceiling test write-downs, our ability to replace reserves and sustain production, our estimate of the sufficiency of our existing capital sources, our ability to raise additional capital to fund cash requirements for future operations, the uncertainties involved in prospect development and property acquisitions or dispositions and in projecting future rates of production or future reserves, the timing of development expenditures and drilling of wells, hurricanes and other natural disasters, changes in laws and regulations as they relate to our operations, including our fracing operations in shale plays or our operations in the Gulf of Mexico, and the operating hazards attendant to the oil and gas business. In particular, careful consideration should be given to cautionary statements made in the various reports PetroQuest has filed with the Securities and Exchange Commission. PetroQuest undertakes no duty to update or revise these forward-looking statements.
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SOURCE PetroQuest Energy, Inc.