PetroQuest Energy, Inc., an independent oil and gas company founded in 1998 with headquarters in Lafayette, Louisiana, filed for Chapter 11 protection on November 13, 2024 in the U.S. Bankruptcy Court for the District of Delaware (Case No. 24-12609 before Judge Craig T. Goldblatt). The filing followed an inability to service $104.5 million in secured debt, mounting plugging and abandonment liabilities, and litigation pressures. The company's remaining core operating assets at filing were oil and gas leasehold and producing properties in Panola County, Texas (East Texas Cotton Valley). PetroQuest had previously emerged from a 2018-2019 Chapter 11 after eliminating approximately $295 million in debt on February 11, 2019. The 2024 chapter 11 centered on DIP financing of $14.2 million and a court-supervised 363 sale process. The East Texas assets closed to AGIS Energy, Inc. on April 11, 2025 for $20.6 million, while litigation assets sold via credit bid for $350,000 on June 23, 2025. The cases were dismissed on October 30, 2025 after completing asset dispositions.