Business
Questerre reports first quarter 2025 results
THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO...
About this update from Questerre Energy Corporation Class A
[{"type":"text","content":"Questerre reports first quarter 2025 results\n\n\n\n\n THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA\n \n\n TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS\n \n\n\n CALGARY, Alberta, May 14, 2025 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the quarter ended March 31, 2025.\n \n\n Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Three wells at Kakwa North were completed this quarter. Including flush volumes, our daily production has averaged over 3,500 boe per day since the tie-in in early April. We plan to participate in a follow-up three (1.5 net) well program that could begin this fall.”\n \n\n He added, “Securing energy supplies and diversifying markets is a priority in Canada following the seismic shift in US trade policy. This is especially true in Quebec where imports account for nearly half their total energy demand. There is a growing consensus in the province that energy infrastructure, including pipelines and LNG export facilities, should be revisited. Our discovery could provide a secure supply of natural gas and help solve their existing electrical energy shortage while reducing Canadian and global emissions.”\n \n\n He further added, “We are following the legal process to protect our shareholders’ rights. At a recent hearing, the Justice approved our request to interview several key Government representatives including current and former ministers. The Attorney General is requesting leave to appeal this decision.”\n \n\n\n Highlights\n \n\n\n\n Kakwa North wells completed in the quarter and on production in early April bringing production to over 3,500 boe per day\n \n\n Red Leaf completes larger-pilot scale demonstration of technology\n \n\n Average daily production of 1,729 boe per day and net cash flow from operating activities of $3.4 million and adjusted funds flow from operations of $3.5 million\n \n\n\n Production volumes increased marginally in the first quarter of 2025 to 1,729 boe/d from 1,664 boe/d last year. Production volumes will increase further in the second quarter following the tie-in of the three (1.50 net) wells drilled this ye...