|Expense Ratio (net)||N/A|
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|Beta (3Y Monthly)||N/A|
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PetroQuest Energy, Inc. (the “Company”) (PQUE) today announced that it and certain of its direct and indirect subsidiaries entered into a restructuring support agreement (“RSA”) with its first lien lenders and second lien noteholders to permanently reduce its debt and the related interest expense in ways that support the long-term growth and success of the business. To implement the RSA and thus achieve its financial goals, the Company also filed for protection under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Bankruptcy Court”). The RSA, which was executed on November 6, 2018, contemplates a comprehensive restructuring of the Company’s capital structure, has the support of certain holders of 81.83% of its 10% Second Lien Secured Senior Notes due 2021 (the “2021 Notes”), certain holders of 84.76% of its 10% Second Lien Senior Secured PIK Notes due 2021 (the “2021 PIK Notes” and, together with the 2021 Notes, the “Notes”) and the lenders under the Company’s multi-draw term loan agreement (the “Prepetition Term Loan Agreement”) (the holders and lenders, the “Consenting Creditors”).
PetroQuest (PQUE) delivered earnings and revenue surprises of 0.00% and 1.13%, respectively, for the quarter ended September 2018. Do the numbers hold clues to what lies ahead for the stock?
LAFAYETTE, La., Nov. 05, 2018 -- PetroQuest Energy, Inc. (the "Company") today announced a loss to common stockholders for the quarter ended September 30, 2018 of $4,979,000,.
PetroQuest Energy, Inc. (the “Company”) (PQUE) announced today that it has extended its previously announced forbearance agreements (as amended prior to the date hereof, the “Forbearance Agreements”) with the administrative agent and the lenders under its multi-draw term loan agreement (the “Loan Agreement”), the holders of approximately 77.9% of the outstanding aggregate principal amount of its 10% Second Lien Secured Senior Notes due 2021 (the “2021 Notes”) and the holders of approximately 70.7% of the outstanding aggregate principal amount of its 10% Second Lien Senior Secured PIK Notes due 2021 (the “2021 PIK Notes”) (collectively, the “Forbearing Creditors”). Under the terms of the Forbearance Agreements, the Forbearing Creditors have agreed to forbear from exercising any and all remedies available to them under and in respect of the Loan Agreement and the indentures governing the 2021 Notes and the 2021 PIK Notes as a result of the Company not making the semi-annual interest payments totaling approximately $14.2 million due on August 15, 2018 with respect to the 2021 Notes and the 2021 PIK Notes and such non-payment continuing for a period of 30 days. As extended, the Forbearance Agreements will expire upon the earlier of 11:59 p.m. (Eastern time) on November 6, 2018 or the occurrence of certain events specified in the Forbearance Agreements.
PetroQuest (PQUE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.