A set of exact closed-form Bloch-state solutions to the stationary Gross-Pitaevskii equation are obtained for a Bose-Einstein condensate in a one-dimensional periodic array of quantum wells, i.e. a square-well periodic potential. We use these exact s
olutions to comprehensively study the Bloch band, the compressibility, effective mass and the speed of sound as functions of both the potential depth and interatomic interaction. According to our study, a periodic array of quantum wells is more analytically tractable than the sinusoidal potential and allows an easier experimental realization than the Kronig-Penney potential, therefore providing a useful theoretical model for understanding Bose-Einstein condensates in a periodic potential.