Questerre reported today that it has concluded a purchase and sale agreement to sell its South Antler property in southeast Saskatchewan for $7 million. Current production from the South Antler property is approximately 77 bbls/d of light oil. As at December 31, 2013, the Company's independent reserve engineers assigned proved and probable reserves of 257.8 Mbbls to this property. The agreement has an effective date of [...]
Questerre reported today on its financial and operating results for the quarter ended September 30, 2014. Michael Binnion, President and Chief Executive Officer, commented, "Although we experienced some setbacks this quarter, we also moved forward in several other areas. We validated the condensate rates with the positive results from the 16-07 Well on our ten-section block at Kakwa South. At our seven-section block at [...]
Questerre reported today on recent developments in the Kakwa-Resthaven area of west central Alberta. Production from the Company's joint venture acreage resumed earlier this month following a scheduled shut-down for third party processing plant maintenance. Current production, net to Questerre, from this acreage is approximately 1,000 boe/d. This includes initial production from the three horizontals with lateral legs of [...]
Questerre is pleased to report on the test results from its 16-07-62-5-W6M well in the Kakwa-Resthaven area of west central Alberta. The 16-07 Well was completed with a ten-stage slick water fracture stimulation in the approximately 1000m horizontal leg. Over the last 24 hour period of the cleanup and flow back, the well averaged 3.5 MMcf/d of natural gas with condensate rates of approximately 50 bbls/MMcf. The well was [...]
Questerre Energy reported today on its financial and operating results for the quarter ended June 30, 2014. Michael Binnion, President and Chief Executive Officer, commented, "With our Montney development plan underway, we drilled a number of key wells in the second quarter of this year. These wells can prove up over 130 possible drilling locations on 17 sections of 100% owned acreage. The 16-07 Well at Kakwa South is [...]
Questerre Energy updated its operated and joint venture activities in the Kakwa-Resthaven area of Alberta. Michael Binnion, President and Chief Executive Officer, commented, "Over the next several weeks, we expect to see the results from five important Montney wells. The completion of the 16-07 Well in Kakwa South is underway and this should prove up the condensate rates on our ten-section block. In Kakwa North, we are [...]
Questerre reported today that its credit facilities with a Canadian chartered bank have been increased from $26.5 million to $50 million. The facilities are currently undrawn by the Company. Michael Binnion, President and Chief Executive Officer, commented, "These facilities give us the capital and financial flexibility to execute our Montney development plan. It complements our existing cash position and the cash flow we [...]
Questerre Energy announced that, at its annual and special meeting of shareholders held on June 11, Earl Hickok joined the Board of Questerre. Peder Paus, Chairman of Questerre, commented, "We are very pleased to have Earl join our Board. His extensive engineering background will be important as we accelerate the development of our Montney acreage in the Kakwa-Resthaven area of Alberta."
Questerreis pleased to report that it has recently spud its second 100% working interest well in the Kakwa-Resthaven area of west-central Alberta. Michael Binnion, President and Chief Executive Officer of Questerre, commented, "This is an important well for us as it is the first well on our 100% seven-section block in Kakwa North. We have licensed additional locations and plan to drill up to two more wells on this block [...]
Questerre Energy is pleased to announce that Red Leaf Resources reported that it has secured the final permit and is ready to begin its 300,000 barrel commercial demonstration project in the Uinta Basin, Utah. Michael Binnion, President and Chief Executive Officer of Questerre, commented, "This is an important milestone for Red Leaf and the future of oil shale. We are looking forward to construction beginning for the [...]
Questerre reported today on its financial and operating results for the quarter ended March 31, 2014. Michael Binnion, President and Chief Executive Officer, commented, "In the quarter we began executing the Montney development plan to achieve our production target of 6,000 boe/d by the second half of 2015. Our first 100% well was spud in the quarter. It will be completed after breakup to prove up the condensate rates on [...]
Questerre reported today that drilling operations have been successfully completed on the 16-07-62-5W6M well in the Kakwa-Resthaven area of west central Alberta. Questerre holds a 100% interest in this well situated approximately six miles south of its producing wells in the area. The 16-07 Well was drilled to a total measured depth of 5053m including a horizontal leg of approximately 1000m. The well was logged and is [...]
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