OKC-based Quest Resource Corp. adds natural gas hedges

Journal Record, The (Oklahoma City), May 25, 2006 by Journal Record Staff

Quest Resource Corp. has added natural gas price collars for a portion of its production in 2007 and 2008.

Specifically, these costless collars for 2007 and 2008 will protect a larger portion of our growing production base from fluctuations in the market price of natural gas and will enable us to have greater certainty with respect to our future revenues, said David Grose, chief financial officer for the Oklahoma City company.

Quest's expected 2007 production totals 28 billion cubic feet equivalent, with 30 percent to be sold under hedging contracts.

Quest Resource is the largest producer of natural gas in the Cherokee Basin in southeast Kansas and northeast Oklahoma.