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Questerre reports third quarter 2025 results

By The Northwire Desk — AI Analysis Nov 12, 2025 · 22:05 QEC · 0.295 QUESTERRE ENERGY CORPORATION
QEC · Price

Executive Summary

  • Questerre Energy reported Q3 2025 production of 2,926 boe/d (up from 1,913 boe/d YoY) and net cash flow from operations of $1.3 M.
  • The company closed its acquisition of PX Energy, adding >4,000 boe/d of oil‑shale capacity and announced a 50/50 joint venture with Nimofast (Brazil).
  • Despite higher production and revenue ($11.8 M for the quarter), expenses led to a net loss of $5.3 M for Q3 2025 (vs. a $0.3 M loss in Q3 2024).

Key Details

  • Acquisition: Completed purchase of PX Energy, providing >4,000 boe/d oil‑shale production and refinery licenses in Brazil.
  • Joint Venture: Formed 50/50 JV with Nimofast subsidiary to commercialize PX Energy assets and improve margins via logistics expertise.
  • Quebec Assets: Planning a spin‑out; shareholders will receive tracking shares on a one‑for‑one basis (pending final structure).
  • Production Metrics:
  • Q3 2025 average: 2,926 boe/d (2024: 1,913 boe/d)
  • Nine‑month total: 2,587 boe/d (2024: 1,712 boe/d)
  • Liquids: 1,512 bbls/d (2024: 1,106 bbls/d)
  • Natural gas: 8,485 Mcf/d (2024: 4,842 Mcf/d)
  • Financial Highlights:
  • Petroleum & natural gas sales: $11.8 M (Q3) vs. $9.5 M (2024 Q3)
  • Year‑to‑date sales: $34.6 M vs. $27.3 M (2024)
  • Adjusted funds flow from operations: $2.8 M (Q3) vs. $3.4 M (2024 Q3)
  • Cash flow from operations: $1.3 M (Q3) vs. $4.1 M (2024 Q3)
  • Capital expenditures: $2.2 M (Q3) vs. $3.4 M (2024 Q3); $21.2 M YTD vs. $13.0 M (2024 YTD)
  • Net Loss: $5.3 M for the quarter (2024 Q3 loss: $0.3 M); $6.0 M YTD (2024 YTD net income: $0.8 M).
  • Legal & Regulatory: Ongoing examination of key witnesses in Quebec litigation; work with government on pilot carbon‑storage project and related legislation.

Notable Quotes

“We are one step closer to our goal of commercially developing oil shale with the acquisition of PX Energy… We are now a vertically integrated oil shale company with assets across the entire value chain.” – Michael Binnion, President & CEO

“The joint venture with Nimofast will be vital to improving product margins and profitability.” – Michael Binnion, President & CEO

Read the original news release →

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