8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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):

April 10, 2006

PETROQUEST ENERGY, INC.

(Exact name of registrant as specified in its charter)

DELAWARE	72-1440714
(State of Incorporation)	(I.R.S. Employer Identification No.)
400 E. Kaliste Saloom Rd., Suite 6000
Lafayette, Louisiana	70508
(Address of principal executive offices)	(Zip code)

Commission File Number: 0-019020

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

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 7.01 Regulation FD Disclosure

Representatives of PetroQuest Energy, Inc. (the “Company”) are scheduled to make presentations at the IPAA Oil & Gas Investment Symposium on April 11, 2006 in New York, at the Burkenroad Reports 10th Annual Investment Conference on April 28, 2006 in New Orleans and at several meetings in New York at various times during April 2006. We are filing herewith a copy of the April 2006 presentation that will be used in these conferences and meetings as Exhibit 99.1.

In accordance with General Instructions B.2 and B.6 of Form 8-K, the foregoing information, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall such information and Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits

(d). Exhibits:

99.1 April 2006 Presentation

2

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 thereunto duly authorized.

	PETROQUEST ENERGY, INC.
Date: April 10, 2006	By:	/s/ Daniel G. Fournerat
		Daniel G. Fournerat
		Senior Vice President, General Counsel and Secretary

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EX-99.1

April 2006

400 East Kaliste Saloom Road, Suite 6000

Lafayette, Louisiana 70508
Phone: (337) 232-7028
Fax: (337) 232-0044
www.petroquest.com

NYSE: PQ

Corporate Contact: Todd Zehnder

The information presented herein may contain predictions, estimates and other forward-looking statements within the

meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although
the company believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals
will be achieved.  Important factors that could cause actual  results to differ materially from those included in the forward
looking statements include the timing and extent of changes in commodity prices for oil and gas, the need to develop and
replace reserves, the impact of inclement weather conditions including hurricanes, drilling and operating risks, uncertainties
about the estimates of reserves, competition,  environmental risks, government regulation and the ability of the company to
meet its stated business goals.

Opening Remarks

2

Corporate Characteristics

n

Historically, our growth has come through the drill bit

and strategic acquisitions

n

7-year historical drilling success – 88%

n

7-year F&D and Reserve Replacement – $2.52/Mcfe

and 255%

n

Added resource play acreage to growth profile –

closed 12 acquisitions (68 Bcfe) since December
2003 (blended cost of $1.44/Mcfe)

n

Top quartile operator among peers

n

Highly experienced team with proven track record

for generating shareholder returns

3

Merger

$0.81

$5.32

$700

$163

$11.45

Adding Up Our Milestones

4

Seven Years of Growth

n

Reserves         38% CAGR

n

Production           39% CAGR

n

Cash Flow         137% CAGR

n

Shareholders’ Equity             35% CAGR

n

Stock price          39% CAGR

5

Optimize Existing Production

Development Drilling

Resource Play Development

Synergistic Acquisitions

Exploration Program

Increases in Corporate Metrics

Company Growth Strategy

6

Arkoma

Basin

East Texas

Gulf Coast

Region

Lafayette

Houston

New Orleans

Non-operated

PQ operated

We have grown beyond

being solely a Gulf Coast

Basin company -

8.1 R/P Ratio at 12/31/05

50% Reserves

50% Reserves

Our Properties

7

EAST TX

ARKOMA

South

Louisiana

Offshore

GOM

UNCONVENTIONAL PLAYS

Proved

Reserves (1)

40.1

25.4

14.5

50.9

Drilling

Locations (1)

180

679

22

35

Yearly

Prod. (2)

EAST TEXAS

ARKOMA

SOUTH LOUISIANA

OFFSHORE GULF OF MEXICO

n

Three

separate
basins – all
core to PQ

Gulf Coast

Net Unrisked

Inventory (1)

83

515

188

216

(1) As of December 31, 2005  (reserves and inventory in Bcfe)

(2) Based on guidance for 2006  (62 – 69 MMcfe/day)

Our Portfolio

n

Three

separate
basins – all
poised for
growth

8

Propelling our Future Growth

n

Approximately 40% of projected reserve growth will

come from new “resource” plays

n

50% of our reserves are in long-lived basins

n

To date – 94% drill bit success rate in long-lived areas

n

30% of our daily production is from these areas

n

Concentration in three core areas with significant

control of operations

n

Large acreage positions with expansion potential

n

Facilities ownership and control

n

Value adding potential through technology

improvements in long-lived areas

9

Oklahoma

Arkansas

n

Approximately 35,000 net acres in the Hartshorne Coal

n

Approximately 500 Hartshorne Coal locations identified

n

Three rigs working full time in the Hartshorne Coal

n

Typical economics: .6 Bcf; $600,000 completed well cost; 150-500 Mcf/day I.P. rate

n

Additional upside in other horizons (Cromwell, Booch)

n

Operate 152 miles of gathering system

n

Current production of ~9,000 Mcf/day from the Hartshorne coal; increasing monthly

Hartshorne

Coal

Arkoma

Basin

Arkoma Basin

10

Horizontal Coal Bed Methane Well Economics

n

 Capital Expenditure   $0.6MM

n

 Reserves                  0.6 Bcfe

n

 F&D Cost (per Mcf)   $1.00

n

 LOE                           $0.65 / Mcfe

n

 I.P. Rate                    0.25 MMcfe/d

n

 Reserve Life              25 years

Gas Price (per Mcf)

Arkoma Basin

11

Arkoma Basin

Caney / Woodford Shale

PQ acreage

LEGEND

Caney Woodford

Shale Trend

Fayetteville

Shale Trend

Barnett

Shale Trend

Texas

Oklahoma

Arkansas

  Caney / Woodford Shale

n

 Approximately 20,000 net acres

n

 Projected 80 acre spacing - 250 locations

n

 Projected 40 acre spacing - 500 locations

n

 Current economics per well: 2.5 Bcf; $3.5MM

     completed well cost; 2.2 MMcf/day I.P. rate

n

 PQ plans to begin development of our shale

    acreage during April 2006

Arkoma Basin – Emerging Resource Play

12

East Texas Basin

n

58,000 gross acres; anchored by SE Carthage Field

n

13 MMcfe/day net production (average of 12/05)

n

12,500 Mcfe/day net production in SE Carthage Field

n

500 Mcfe/day net production in other areas

n

Travis Peak and Cotton Valley Formations

n

$1.9 MM average well cost – dual completion

n

1+ Bcfe reserve potential per well

n

Over 100 identified locations in SE Carthage Field

n

Four new areas entered during 2005 with 80+ possible locations

n

Two full time rigs working in the basin

13

SE CARTHAGE

GROSS ACRES: 45,000

I.P. RATE – 1,300

MCF/DAY

POTENTIAL DRILLS:

100+

SOUTH HAWKINS

GROSS ACRES: 951

I.P. RATE - 500 MCF/DAY

POTENTIAL DRILLS:

5+

NICKLAUS PROSPECT

GROSS ACRES: 1,055

15+

POTENTIAL DRILLS:

JONES PROSPECT

GROSS ACRES: 2,540

POTENTIAL DRILLS:

15+

SOUTH ALTO

GROSS ACRES: 4,845

I.P. RATE – 1,000

MCF/DAY

POTENTIAL DRILLS: 15

HOGAN PROSPECT

GROSS ACRES: 1,613

POTENTIAL DRILLS:

15+

PALMER PROSPECT

GROSS ACRES: 1,900

POTENTIAL DRILLS:

15+

PROSPECTS

DISCOVERIES

TEXAS

East Texas Basin

14

n

 Capital Expenditure     $1.9MM

n

 Reserves                     1.1 Bcfe

n

 F&D Cost (per Mcf)      $1.73

n

 LOE                             $0.73 / Mcfe

n

 I.P. Rate                       1.3 MMcfe/d

n

 Reserve Life                30+ years

Gas Price (per Mcf)

Carthage Field – Dual Completed Well Economics

East Texas Basin

15

	2005 CF Multiple(1)	2006 CF Multiple(1)
PetroQuest Energy	5.7	3.6
Bill Barrett Corp	8.1	6.3
Carrizo Oil & Gas	12.3	8.9
Denbury Resources	9.4	8
EOG Resources	7	6.1
Gasco Energy	119.0(2)	55.3 (2)
Goodrich Petroleum	15.9	6.9
Quicksilver Resources	16.2	10.3
Southwestern Energy	16.7	11.9
The Exploration Co.	12.9(3)	8.0(3)
Ultra Petroleum	22.1	16.2
Average, excluding PetroQuest	24	13.8
Average, excluding high / low & PetroQuest	14.2	9.6

⁽¹⁾ Completion of estimates from the Gerdes Group as of 3/3/06

⁽²⁾ Jefferies & Co. estimate

⁽³⁾ A.G. Edwards estimate

Resource Players

Cash Flow Comparison

16

Oakbourne

(P&A)

Turducken

Cayenne (Producing)

The Farm

Lafayette

Pelican Point

(Completing)

Grey Plantation

English Turn

Atchafalaya

2006 South Louisiana Drilling Program

17

2006 South Louisiana Drilling Program

18

Pacific Grove

(Drilling)

Lafayette

Grayhawk

(Completing)

Pine Valley

Denali

(P&A)

WC Drilling

Program

SS 72 Drilling

Program

2006 Gulf of Mexico Drilling Program

19

2006 Gulf of Mexico Drilling Program

20

Consistent Approach Generates

Continued Growth

n

Economic reserve additions and

production growth

n

Effective cost control

n

Balanced portfolio of projects

n

Use acquisitions to augment future

drilling program

21

Resource Play

Inventory Wedge

East Texas

Arkoma

Gulf Coast

Bcfe

2006

2007

Growth in Reserves

22

in millions

Cash Flow Growth

23

$ / Mcf

Gross Margin

24

Onshore

Offshore

100% Gulf Coast

29% East

Texas

20% Arkoma

24% South

Louisiana

27% GOM

$145 - 160 million

Drill 158 Wells

$64 million

Drilled 10 Wells

2002

2006

Capital Investment Program –

Our Change is Complete

25

Drilling Activity Leads to Production Growth

26

Gulf Coast

East Texas

Arkoma

Bcfe

We’re Forecasting Production Growth

27

Framework for Future Growth

n

PetroQuest has the inventory and capability to

continue its steady production and reserve
growth in all three basins

n

Resource plays forecasted to grow production

and reserves in our long-lived areas

n

Continue to improve operating efficiencies in our

long-lived areas through continuous drilling

n

15 high quality exploration prospects in inventory

n

Balance sheet supports reserve base expansion

n

Management owns largest portion of company

among peer group

28

April 2006

29