Presentation

Questerre Energy is a Canadian E&P company focusing on high impact unconventional oil and gas resources, primarily in Canada and the US. The company is listed on the Toronto and Oslo Stock Exchange with a market cap of USD 68m. As of Q3’19, the company had CAD 10m of cash and drawn CAD 16m of its RCF.

Questerre has a large acreage position in the liquids-rich Montney play in Canada, one of the largest oil and gas fields in the world. The company holds a 25% stake in the JV acreage with net production 1,550 boepd in Q3’20, down from an average 1,900 boepd a year earlier due to lower drilling activity following the oil price decline and Covid-19 pandemic. In addition, the company holds interests in Saskatchewan and Manitoba, contributing with 330 boepd in Q3’20.

The company also holds a 100% WI in the 23 Tcf Utica shale gas discovery in Quebec. In 2018, the Government of Quebec implemented a ban on fracking. However, with a new pro-business government in place, the company remains optimistic that the ban could be removed. Further, as part of its increased focus on the energy transition and new clean technologies to produce low-emission energy, this Clean Gas project will be a milestone. Following the pandemic, increased focus on local employment and energy supply has created a favourable environment for the project, with increased local support. In addition to low-emission gas production, the company is looking into the possibility of incorporating hydrogen production in the project, as well as CCS to produce blue hydrogen.