Business
Questerre to sell non-operated Kakwa Central assets for $23.5 million
THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNI...
About this update from Questerre Energy Corporation Class A
[{"type":"text","content":"Questerre to sell non-operated Kakwa Central assets for $23.5 million\nTHIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, April 24, 2026 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) reported today it has entered into a binding agreement to sell its non-operated minority working interest in its Kakwa Central assets for total consideration of $23.5 million. Pursuant to a purchase and sale agreement, the consideration includes a cash payment of $23.5 million, the assumption of decommissioning liabilities for the assets as well as the Company's commitments under its firm transportation and processing contracts. The agreement is scheduled to close on May 1, 2026, and is subject to receipt of requisite approvals and customary adjustments. Production from the Kakwa Central assets averaged approximately 650 boe per day during the first quarter of 2026. Post the disposition, Questerre production is expected to average over 4,500 boe per day including production from its Kakwa North assets where it holds a 50% working interest. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “We invested in Kakwa Central over 14 years ago to extend the condensate rich window of the Montney. It was a success and we jointly drilled over 40 wells to develop these lands. This sale strengthens our balance sheet without the issuance of any equity capital. We are focused on developing our other assets including our adjacent lands at Kakwa North.” Questerre is an energy technology and innovation company focused on responsibly developing oil and gas resources. The Company holds a significant natural gas discovery in the Quebec Utica shale, widely recognized as one of the most important undeveloped natural gas resources in Eastern Canada. The Company believes society can successfully transition its energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, society can sustain both human progress and the natural environment. Questerre is a believer that the future success of the energy industry depends on a balance of economics, environment, and society. We are committed to being transparent and are res...