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Questerre ( (TSE:QEC) ) has issued an update.
Questerre reported that restructuring at its PX Energy unit is cutting operating costs in Brazil, reducing lifting expenses by 30% and helping drive adjusted funds flow from operations to $20.8 million in the first quarter. The company is targeting further savings, including lower internal fuel use through a new biomass boiler, and aims to validate Red Leaf’s HCCO oil shale technology at scale to convert large resources into reserves.
In Quebec, Questerre is positioning its Utica natural gas and carbon storage projects as part of the solution to the province’s growing electricity shortage and energy security concerns, amid a shifting political climate more open to local production. A capital reorganization has shifted the value of Quebec assets into preferred shares, a court has approved Questerre as a test case in its legal challenge over the shale gas ban, and the recent sale of Kakwa Central assets has strengthened working capital even as overall production is expected to decline.
More about Questerre
Questerre is an energy company with operations focused on oil shale production in Brazil and natural gas assets in Quebec and Canada. Through its PX Energy subsidiary, it targets cost-efficient extraction and processing of oil shale, while in Quebec it is advancing local natural gas development and carbon storage initiatives aligned with evolving energy security and decarbonization goals.
Average Trading Volume: 80,806
Technical Sentiment Signal: Buy
Current Market Cap: C$158.3M
See more data about QEC stock on TipRanks’ Stock Analysis page.