PetroQuest gets joint venture for gas project
LAFAYETTE, La. (AP) - PetroQuest Energy Inc. has entered into a
joint venture with a subsidiary of FPL Group Inc. to develop
PetroQuest's holdings in the Woodford Shale.
Located in southeastern Oklahoma, the Woodford is one of the
major shale finds of natural gas over the past few years.
The FPL subsidiary - NextEra Energy Inc. - will play
Lafayette-based PetroQuest $60 million and up to $28 million in
2011. NextEra will pay a portion of PetroQuest's future drilling
costs in the Woodford Shale.
NextEra is involved in various generation projects, many of them
involving alternative forms such as wind. FPL is a major power
provider in the southeastern United States.