Canada's Questerre Energy Q1 revenue steady

Questerre Energy (Canada)

15/05/2026 02:54

Overview

Canada oil and gas producer's Q1 revenue was C$43 mln, roughly flat from prior quarter

Cost cutting at PX Energy reduced lifting costs by 30% to C$17.5 mln

Adjusted funds flow from operations rose to C$20.8 mln, aided by minimum sales contracts

Outlook

Production expected to be lower for remainder of year after Kakwa Central asset sale

Company expects working capital to continue improving based on current strip prices

A portion of Canadian production is now hedged

Result Drivers

COST CUTTING - Lifting costs at PX Energy in Brazil fell by C$7.6 mln, or 30%, to C$17.5 mln from the prior quarter due to restructuring and expense reductions

MINIMUM SALES CONTRACTS - C$6.7 mln in revenue from minimum sales contracts in Brazil supported adjusted funds flow from operations

STRONGER OIL PRICES - Higher oil prices in March helped maintain revenue despite lower production volumes

Company press release: ID:nObibjN48a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Petroleum and Natural Gas Sales
C$43 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)