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Questerre ( (TSE:QEC) ) has shared an update.
Questerre has reported a significant increase in production, averaging over 3,000 boe per day, driven by new wells at Kakwa North. The company is actively pursuing legal avenues to protect its shareholders’ rights concerning Bill 21 in Quebec and is promoting its natural gas as a cost-effective energy solution for the province. The acquisition of PX Energy is expected to enhance Questerre’s oil shale operations, particularly in Jordan, and support the commercialization of its Red Leaf technology. Despite lower oil prices, Questerre maintained strong financial performance with a working capital surplus and no credit facility drawdowns.
More about Questerre
Questerre is an energy company involved in the production and exploration of natural gas and oil shale. The company is focused on leveraging its assets in Quebec and Jordan, and is actively pursuing opportunities to integrate its natural gas discovery into Quebec’s energy supply chain. Additionally, Questerre is expanding its capabilities through the acquisition of PX Energy, a Brazilian oil shale and refining company.
Average Trading Volume: 40,868
Technical Sentiment Signal: Buy
Current Market Cap: C$162.8M
Learn more about QEC stock on TipRanks’ Stock Analysis page.