Questerre reported Q2 2026 revenue of $50.1M, up from $13.7M a year ago, and completed a $23.5M sale of Kakwa Central assets. The company also listed preferred shares tied to Quebec natural gas discovery on Euronext Growth Oslo.
Alpha Score of 44 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
Questerre Energy Corp. reported Q2 2026 revenue of $50.1 million, up from $13.7 million a year earlier, and net income before taxes of $20.6 million versus a $0.7 million loss in the same period of 2025. The results included a $17.5 million gain on the sale of its minority working interest at Kakwa Central.
The company completed that sale for $23.5 million in cash plus the assumption of associated reclamation obligations. The Kakwa Central assets had been producing roughly 650 barrels of oil equivalent a day. Proceeds will go toward development at Kakwa North and expansion of operated assets in Saskatchewan, CEO Michael Binnion said.
Working capital swung to a deficit of $19.1 million at June 30, from a $49.6 million surplus at March 31. Capital expenditures for the first half were $4.0 million, down from $18.9 million a year earlier, and related largely to Brazil.
The key operational development this quarter was a successful test of the company's homogeneous charge, low-temperature oxygen (HCCOTM) process in Brazil. Binnion said the company demonstrated the technology on a commercial-scale vessel in May. An extended test is the next step to determine commercial parameters for integrating the process into the existing Petrosix refinery. Binnion said the process could materially cut internal fuel usage, which currently accounts for nearly 15% of production.
In June, Questerre listed preferred shares tied to its Quebec Utica shale discovery on Euronext Growth in Oslo under the ticker QGAS. The shares represent defined economic rights linked to the Quebec assets under either a settlement or a development scenario. If a settlement occurs, the rights give shareholders 95% of the net proceeds. Under a development scenario, shareholders get a 50% carried interest. Shortly after the listing, the Quebec government formally recognized the strategic importance of natural gas, Binnion said, supporting efforts to reach a commercial solution for the discovery.
Production for the quarter averaged 4,312 barrels a day of liquids, up from 1,690 a year earlier. Natural gas output was 8,295 thousand cubic feet a day, down slightly from 8,409 Mcf/d.
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