Questerre Energy reports Q1 results

May 12, 2022 3:19 AM ETQuesterre Energy Corporation (QTEYF), QEC:CABy: Meghavi Singh, SA News Editor
  • Questerre Energy press release (OTCPK:QTEYF): Q1 Current production over 2,000 boe/d with average daily production of 1,288 boe/d and adjusted funds flow from operations of $4.3 million for the quarter.
  • The Company generated net income of $2.4 million for quarter (2021: $0.9 million) and adjusted funds flow from operations of $4.3 million (2021: $2.9 million).
  • The Company incurred capital expenditures of $4.9 million for the period (2021: $0.5 million) and reported a working capital surplus of $1.2 million as at March 31, 2022 (March 31, 2021: $5.4 million deficit).

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