Questerre Third-Quarter Production Averages 4,634 Barrels of Oil Equivalent per Day: Petroleum and Natural Gas Revenue of 50.8 Million Canadian Dollars and a Net Loss of 27.6 Million Canadian Dollars as the PX Energy Turnaround Finishes on Schedule, Released November 12
Questerre Energy Corporation reported on November 12, 2026, in Calgary, Alberta, in a GlobeNewswire release, its financial and operating results for the quarter ended September 30, 2026. Production averaged 4,634 barrels of oil equivalent per day for the quarter, compared with 2,926 a year earlier, and 5,496 per day year to date. Petroleum and natural gas revenue increased to 50.8 million Canadian dollars for the quarter, from 11.8 million Canadian dollars a year earlier, and to 143.9 million Canadian dollars year to date.
The company reported a net loss of 27.6 million Canadian dollars for the quarter, compared with 5.3 million Canadian dollars a year earlier, and a net loss of 17.6 million Canadian dollars year to date. The quarter included net finance expense of 24.2 million Canadian dollars, most of it non-cash. Adjusted funds flow from operations was 2.3 million Canadian dollars, after 4.8 million Canadian dollars of idle capacity costs during the shutdown and a 5.6 million Canadian dollar reduction in contract liabilities as customers took delivery of pre-paid product, and net cash from operating activities was 1.7 million Canadian dollars.
Operationally, the company completed the unscheduled turnaround at PX Energy on schedule and on budget, with no recordable safety incidents, and the retort is back above 90 percent efficiency. President and chief executive Michael Binnion said the company acquired PX Energy a year ago to build a business that generates free cash flow and to prove its Homogeneous Charged Continuous Oxidation technology, that it is on track for 11 million Canadian dollars in cost savings this year, and that it has successfully tested the technology at commercial scale. The company also reported approval from the Government of Quebec for its carbon storage pilot, and selection by the Province of Nova Scotia as the successful bidder in its first bid round, with a Petroleum Exploration Agreement under negotiation. This item reports only the published results and statements and is not investment advice.
Source: Questerre Energy
Published by GSM · USA (original Chinese edition)
Photo: 图：油田里的抽油机设备。作者与授权：Arne Hückelheim，CC BY-SA 3.0，维基共享资源。 / Photo: Pumpjack equipment in an oil field (file photo). Credit: Arne Hückelheim, CC BY-SA 3.0, Wikimedia Commons.
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