Questerre Acquires the Quebec Assets of Undisclosed E&P Company

Updated 1 year 7 months ago

Questerre Energy announced an agreement in March 2019 to acquired all the Quebec assets of an unnamed "senior exploration and production company" following a letter of intent signed in early 2018. This includes 753,000 net acres in Quebec including operatorship of natural gas discovery in the St. Lawrence Lowlands which the company plans to develop as part of their Clean Tech Energy project. A 2017 GLJ resource assessment estimated unrisked gross contingent and prospective resources of 3.9 Tcf and 21.3 Tcf, respectively. The total consideration including cash and contingent payments is approximately CAD 11 million prior to closing adjustments. The deal closed in January 2020.