8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549



                                    FORM 8-K



                                 CURRENT REPORT

                       Pursuant to Section 13 or 15 (d) of
                       the Securities Exchange Act of 1934


                Date of Report (Date of earliest event reported):
                        March 21, 2002 (March 21, 2002)


                             PETROQUEST ENERGY, INC.
             (Exact name of registrant as specified in its charter)

                                    Delaware
                            (State of incorporation)


         1-9020                                                 98-0115468
(Commission File Number)                                      (IRS Employer
                                                            Identification No.)


       400 E. Kaliste Saloom Road, Suite 3000, Lafayette, Louisiana 70508
              (Address of Registrant's principal executive offices)



        Registrant's telephone number, including area code (337) 232-7028



                                 Not Applicable
          (Former name or former address, if changed since last report)






ITEM 5.  OTHER EVENTS

         On March 21, 2002, PetroQuest Energy, Inc. issued a press release
announcing that it was the apparent high bidder on 2 blocks in the shallow
waters of the Central Gulf of Mexico in the March 20, 2002 OCS Sale 182
conducted in New Orleans.

         The press release is filed as an exhibit hereto and is incorporated
herein by reference.

ITEM 7.  FINANCIAL STATEMENT AND EXHIBITS

a.       Financial Statement of Business Acquired

         None.

b.       Pro Forma Financial Information

         None.

c.       Exhibits

         99.1     Press Release

                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


Date: March 21, 2002                   PETROQUEST ENERGY, INC.


                                       By: /s/ Daniel G. Fournerat
                                          --------------------------------------
                                          Daniel G. Fournerat
                                          Senior Vice President, General Counsel
                                          and Secretary






                                  EXHIBIT INDEX

Exhibit No.            Description
- -----------            -----------

   99.1                Press Release

EX-99.1

                                                                    EXHIBIT 99.1

[PETROQUEST ENERGY, INC. LETTERHEAD]




NEWS RELEASE
FOR IMMEDIATE RELEASE

For further information, contact:    Robert R. Brooksher, Vice President -
                                     Corporate Communications
                                     (337) 232-7028


           PETROQUEST ENERGY, INC. ANNOUNCES TWO APPARENT HIGH BIDS IN
                        CENTRAL GULF OFFSHORE LEASE SALE

Lafayette, Louisiana - March 21, 2002 - PetroQuest Energy, Inc. (NASDAQ: PQUE)
announced today that it was the apparent high bidder on 2 blocks in the shallow
waters of the Central Gulf of Mexico in yesterday's OCS Sale 182 conducted in
New Orleans. The 2 blocks, West Cameron Block 230 and West Cameron Block 211,
are located within the Company's "Hercules" exploration area and represent a set
of quality opportunities that would augment an already strong inventory of
drilling prospects. The Company bid the blocks at a 100% working interest level
with a net total exposure of $2.56 million if both blocks are ultimately awarded
by the MMS. If awarded, the two blocks will add 10,000 gross and net acres to
the Company's present offshore holdings of approximately 102,000 gross acres and
55,000 net acres. It will also raise to 26 the number of offshore blocks in
which the Company has an interest.

PetroQuest Energy Inc. is an independent energy company engaged in the
exploration, development, acquisition and production of oil and natural gas
reserves in the Gulf Coast Basin, both onshore and in shallow waters offshore.

This press 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 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 estimating quantities of proved
oil and natural gas reserves and in projecting future rates of production, the
timing of development expenditures 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.