Business
Questerre production grows to 1,800 boe/d in June
CALGARY , July 14, 2015 /CNW/ - Questerre Energy Corporation ("Questerre" or the ...
About this update from Questerre Energy Corporation Class A
[{"type":"text","content":"\n\n\n\n\nCALGARY, July 14, 2015 /CNW/ - Questerre Energy Corporation (\"Questerre\" or the \"Company\") (TSX, OSE: QEC) reported today that its daily production for the month of June averaged 1,800 boe/d.\n\nThe increase in production is largely due to the commissioning of the expanded central compression and stabilization facility on its joint venture acreage in the Kakwa-Resthaven area in early May. Production from this area has increased to approximately 1,300 boe/d (50% condensate and liquids and 50% natural gas) since May from 819 boe/d in the first quarter of this year.\n\nMichael Binnion, President and Chief Executive Officer of Questerre, commented, \"Recent Kakwa well results support that we are in a top decile play, even with lower commodity prices. With the growth in our base production, we are optimistic and will continue drilling at Kakwa.\"\n\nThe Company also updated activities on its joint venture acreage at Kakwa. Drilling operations have recently commenced on the 13-25-63-6W6M well (the \"13-25 Well\"). The well is programmed with an approximate 1900m lateral in the Montney formation. Completion operations are scheduled for the fourth quarter of 2015. Questerre holds a 25% working interest in the 13-25 Well. The operator has reported plans to drill up to two (0.5 net) additional wells on the joint venture acreage in the second half of 2015, subject to commodity prices and other conditions. \n\nCompletion operations were recently finished on the 01-11-63-6W6M well (the \"01-11 Well\") and the 08-11-63-6W6M well (the \"08-11 Well\"), situated approximately four miles south of the 13-25 Well. These wells will be equipped and tied-in to the local gathering system this quarter. They are expected to be on production later this year.  Additionally, the operator has recently put on production the 01-14-63-6W6M well (\"01-14 Well\"). Questerre has a 25% working interest in the 01-11 Well, 08-11 Well and the 01-14 Well.\n\nThe operator also reported on the initial production for the month of May from the 14-25-63-6W6M well (the \"14-25 Well\") and the 15-25-63-6W6M well (the \"15-25 Well\") which offset the 13-25 Well. Gross production from the 14-25 Well averaged 3.74 MMcf/d of gas and 856 bbls/d of condensate and other liquids (1,479 boe/d) and the 15-25 Well averaged 3.55 MMcf/d of gas and 776 bbls/d of con...