- Business
- Questerre Energy Corporation (TSX, OSE: QEC; OTC: QTEYF) is an energy technology and innovation company engaged in the acquisition, exploration, and development of non-conventional oil and gas projects, including tight oil, oil shale, shale oil, and shale gas. The company produces natural gas, crude oil, and natural gas liquids from assets primarily in Western Canada, encompassing working interests in approximately 40,320 acres in Kakwa, Alberta (25% in Kakwa Central, 50% in Kakwa North, Kakwa West, and Kakwa South), 100% in 12,560 acres in Antler, Saskatchewan, and additional interests in Manitoba; it also holds a natural gas discovery in Quebec's St. Lawrence Lowlands and oil shale assets in the Kingdom of Jordan, with an equity investment in Red Leaf Resources for proprietary EcoShale In-Capsule Technology. Questerre operates through segments including Western Canada (Alberta, Saskatchewan, Manitoba), Quebec (focused on clean technology energy projects and carbon storage pilots), and Corporate and Other (including Jordan and technology investments), targeting industrial gas users and power generation in Quebec while emphasizing low-impact production across its portfolio.
Founded in 1971 and headquartered at Suite 1650, 801 - 6th Avenue SW, Calgary, Alberta, Canada, the company, formerly Westpro Equipment Ltd., rebranded to Questerre Energy Corporation in December 2000 and lists common shares on the Toronto Stock Exchange and Oslo Stock Exchange.
In recent developments, Questerre closed the acquisition of Parana Xisto SA (PX Energy), a Brazilian oil shale production and refining company with over 4,000 boe per day of output and one of ten private refinery licenses in Brazil, entering a 50/50 joint venture with Nice Capital Holdings Ltda., a subsidiary of Nimofast Group, one of Brazil's leading private fuel importers and distributors, to stabilize operations, enhance logistics, and advance low-carbon shale oil technologies; the partners committed up to US$50 million in liquidity, subject to regulatory approvals including CADE clearance achieved in November 2025. The company reported average daily production of 2,926 boe per day in Q3 2025 (up from 1,913 boe/d in 2024), driven by Kakwa North well tie-ins, with adjusted funds flow from operations of $2.8 million and plans for further drilling in 2026; it also filed for Supreme Court of Canada appeal on Quebec's Bill 21, advanced carbon storage approvals, and plans to spin out Quebec assets via tracking shares for shareholders. Additionally, in December 2025, Questerre announced intent to acquire the remaining interest in Red Leaf Resources to consolidate its technology position.