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Filing Details

Accession Number:: 0001181431-12-005884
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-02-03 19:16:21
Reporting Period:: 2012-02-01

Filing Date:: 2012-02-03
Accepted Time:: 2012-02-03 19:16:21
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
872248	Petroquest Energy Inc	PQ	Crude Petroleum & Natural Gas (1311)	721440714

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
919468	Spo Advisory Corp	591 Redwood Highway, Suite 3215 Mill Valley CA 94941	No	No	Yes	No
948279	Sf Advisory Partners Lp	591 Redwood Highway , Suite 3215 Mill Valley CA 94941	No	No	Yes	No
1046206	Spo Partners Ii Lp	591 Redwood Highway, Suite 3215 Mill Valley CA 94941	No	No	Yes	No
1202553	H John Scully	591 Redwood Highway, Suite 3215 Mill Valley CA 94941	No	No	Yes	No
1218663	E William Oberndorf	591 Redwood Highway, Suite 3215 Mill Valley CA 94941	No	No	Yes	No
1252456	Spo Advisory Partners Lp	591 Redwood Highway, Suite 3215 Mill Valley CA 94941	No	No	Yes	No
1252458	San Francisco Partners Lp	591 Redwood Highway, Suite 3215 Mill Valley CA 94941	No	No	Yes	No
1252464	H Edward Mcdermott	591 Redwood Highway , Suite 3215 Mill Valley CA 94941	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2012-02-01	320,284	$5.99	7,880,816	No	4	S	Indirect	See Footnotes
Common Stock	Disposition	2012-02-02	41,332	$6.01	7,839,984	No	4	S	Indirect	See Footnotes
Common Stock	Disposition	2012-02-03	35,000	$5.97	7,805,384	No	4	S	Indirect	See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See Footnotes
No	4	S	Indirect	See Footnotes
No	4	S	Indirect	See Footnotes

Footnotes

The entities and individuals directly selling these shares reported in this filing are SPO Partners II, L.P. ("SPO Partners"), which sold 377,916 shares, San Francisco Partners, L.P. ("SF Partners"), which sold 14,400 shares, John H. Scully ("JHS"), who sold 800 shares and William E. Oberndorf ("WEO"), who sold 3,500 shares. The range of prices for the sales on 2/1/12, reported in Line 1 above, was $5.90-6.12 and the range of prices for the sales on 2/2/12, reported in Line 2 above, was $5.96-6.07 and the range of prices for the sales on 2/3/12, reported in Line 3 above, was $5.94-6.00 (full detailed information regarding the shares sold at each price will be provided upon request).
As a result of the sales causing this filing, 7,519,184 shares are owned directly by SPO Partners, and may be deemed to be indirectly beneficially owned by (i) SPO Advisory Partners, L.P. ("SPO Advisory"), the sole general partner of SPO Partners, (ii) SPO Advisory Corp. ("SPO Corp."), the sole general partner of SPO Advisory, and (iii) JHS, WEO and Edward H. McDermott ("EHM"), the three controlling persons of SPO Corp. Additionally, 286,200 shares are owned directly by SF Partners, and may be deemed to be indirectly beneficially owned by (i) SF Advisory Partners, L.P. ("SF Advisory"), the sole general partner of SF Partners, (ii) SPO Corp., the sole general partner of SF Advisory, and (iii) JHS, WEO and EHM, the three controlling persons of SPO Corp.
Additionally, (i) 14,100 shares are owned by JHS and are held in an IRA, which is self-directed, (ii) 67,800 shares are owned by WEO and are held in an IRA, which is self-directed and (iii) 800 shares are owned by EHM and are held in an IRA, which is self-directed.