Questerre reports first quarter 2025 results

Core Viewpoint - Questerre Energy Corporation reported its financial and operational results for Q1 2025, highlighting increased production and ongoing efforts to secure energy supplies in Canada amid changing trade policies [1][2][3]. Financial Performance - Production volumes increased to 1,729 boe/d in Q1 2025 from 1,664 boe/d in the same period last year [3]. - Petroleum and natural gas revenue remained stable at $9.1 million compared to $9.0 million in Q1 2024 [3]. - The company reported no net income for the quarter, compared to a loss of $0.2 million in the previous year [3]. - Cash flow from operations was $3.4 million, up from $2.6 million in 2024, while adjusted funds flow from operations was $3.5 million compared to $3 million in 2024 [3][15]. Capital Expenditures and Working Capital - Questerre incurred capital expenditures of $17.9 million in Q1 2025, significantly higher than $2.6 million in the same quarter of 2024 [4]. - The company reported a working capital surplus of $9.2 million as of March 31, 2025, down from $30.2 million in 2024 [4]. Production and Operations - Three wells at Kakwa North were completed, contributing to an average daily production of over 3,500 boe per day since early April [2]. - The company plans to participate in a follow-up program involving three additional wells, which could commence in the fall [2]. Strategic Focus - The company emphasizes the importance of securing energy supplies and diversifying markets in Canada, particularly in Quebec, where energy imports account for nearly half of total demand [2]. - Questerre aims to leverage its expertise in energy technology and innovation to transition its energy portfolio responsibly [5][6].