Questerre updates PX Energy transaction

Executive Summary

• The 50/50 joint‑venture term sheet for developing Parana Xisto SA (PX Energy) has expired, leaving Questerre Energy Corp. as the 100% owner and operator of PX Energy.
• As a result, Questerre will fully consolidate PX Energy’s financial and operating results for Q4 2025 and the full year ending Dec‑31‑2025.
• Production at PX Energy remains above 4,400 boe/d, and total company production for Q4 2025 (including Western Canada) is projected to average 6,500–7,000 boe/d.

Key Details

• Joint‑venture termination: The 50/50 JV term sheet with a Brazilian partner expired per its terms; no further partnership obligations remain.
• Ownership: Questerre now holds 100% ownership and operational control of PX Energy, an oil‑shale production and refining entity based in southern Brazil.
• Consolidation impact: All financial results for the quarter and period ending Dec 31 2025 will include full consolidation of PX Energy’s assets, liabilities, revenues, and expenses.
• Current production: PX Energy is producing >4,400 barrels of oil equivalent per day (boe/d).
• Q4 2025 production outlook: Combined company production (PX Energy + Western Canada) is estimated at 6,500–7,000 boe/d for the fourth quarter of 2025.
• Operational momentum: The company cites “continued operational momentum and stable field performance” as drivers of the production guidance.

Notable Quotes

(No direct CEO/President quotes were included in the release.)