Questerre reports second quarter 2025 results

Core Viewpoint - Questerre Energy Corporation reported significant increases in production and revenue for the second quarter of 2025, driven by the tie-in of new wells, while also facing challenges related to legal proceedings and fluctuating market prices [2][5][10]. Financial Performance - Average production for the quarter was 3,091 boe/d, nearly doubling from 1,559 boe/d in the same period last year [4][10]. - Petroleum and natural gas sales reached $13.7 million for the quarter, up from $8.8 million in 2024, and $22.8 million year-to-date compared to $17.8 million in 2024 [5]. - Adjusted funds flow from operations was $5 million for the quarter, an increase from $4.5 million in 2024, and $8.5 million year-to-date compared to $7.4 million in 2024 [5][17]. - Net cash from operating activities was $6.3 million for the quarter, up from $3.1 million in 2024 [6][17]. Production and Operations - The company is assessing processing capacity for current and future production volumes, with a follow-up drilling program planned for the second half of next year [2]. - Liquids production averaged 1,690 bbls/d for the quarter, compared to 931 bbls/d in 2024, while natural gas production was 8,409 Mcf/d, up from 3,767 Mcf/d in 2024 [13]. Legal and Regulatory Developments - The company filed an application for leave to appeal a decision by the Quebec Court of Appeal regarding Bill 21, which is crucial for protecting shareholder rights [2][10]. Cash Position - As of June 30, 2025, the company held unrestricted cash and term deposits of $18.3 million, with a net working capital surplus of $13.2 million [7].