Questerre pressed on Quebec well obligations as energy security debate grows

Questerre ( (TSE:QEC) ) has provided an announcement.

Questerre Energy is spotlighting its Quebec portfolio after recent political debate over the province’s energy security and the potential role of local natural gas from the Utica shale. The company emphasizes peer-reviewed and government-backed assessments suggesting manageable environmental impacts from local gas development and argues that its projects could deliver notable environmental benefits.

The company has received a notice from Quebec’s Ministry of Economy, Innovation and Energy reiterating its obligations under Bill 21, including a requirement to show $11 million in liquidity for future well abandonments, of which the government is responsible for most costs. Questerre is evaluating using existing wells in a carbon sequestration pilot and says it will cooperate with the province as it pursues a political and business solution to advance its Quebec gas development while safeguarding shareholder interests.

The most recent analyst rating on (TSE:QEC) stock is a Hold with a C$0.31 price target. To see the full list of analyst forecasts on Questerre stock, see the TSE:QEC Stock Forecast page.

More about Questerre

Questerre Energy Corporation is an energy technology and innovation company focused on the responsible development of oil and natural gas resources. The Calgary-based group holds a significant natural gas discovery in Quebec’s Utica shale, one of Eastern Canada’s largest undeveloped gas resources, and promotes clean technologies to balance economic, environmental and social goals in the energy transition.

Average Trading Volume: 59,823

Technical Sentiment Signal: Buy

Current Market Cap: C$126.4M

For an in-depth examination of QEC stock, go to TipRanks’ Overview page.