Questerre Energy (TSE:QEC) Posts Earnings Results

Questerre Energy (TSE:QEC) announced its quarterly earnings results on Friday. The company reported C($0.06) EPS for the quarter, FiscalAI reports. The firm had revenue of C$47.88 million for the quarter. Questerre Energy had a negative net margin of 47.54% and a negative return on equity of 74.92%.

Here are the key takeaways from Questerre Energy’s conference call:

• Questerre reported positive adjusted cash flow of CAD 2.3 million in Q3 despite losing about one-sixth of the quarter’s production to a plant turnaround. Its consolidated working-capital position improved by CAD 37 million since the start of the year, from a CAD 50 million deficit to a CAD 13 million deficit.
• Brazil’s PX Energy operation faces substantial near-term cash needs: the next turnaround is now expected to cost about CAD 15 million, nearly double the earlier estimate, with additional deferred maintenance and an Petrobras earnout bringing anticipated expenditures to roughly CAD 30 million next year. Questerre has begun discussions to restructure its secured bonds to accommodate those needs.
• The August turnaround was completed on time and on budget, restoring retort efficiency to more than 90%, but management said the shutdown exposed systemic deferred maintenance. The company is targeting higher production, longer intervals between turnarounds, and operating costs around US$50 per barrel; these remain goals rather than achieved results.
• Management said prospects for developing Questerre’s Quebec gas discovery have improved, citing increased local polling support, Hydro-Québec’s delayed electricity expansion plans, and ongoing confidential mediation with the province. The mediation is non-binding, so the project’s path forward remains uncertain.

Questerre Energy Stock Down 1.9%

TSE:QEC traded down C$0.01 during mid-day trading on Friday, reaching C$0.26. The company’s stock had a trading volume of 20,403 shares, compared to its average volume of 59,019. The company has a quick ratio of 2.62, a current ratio of 0.82 and a debt-to-equity ratio of 124.60. Questerre Energy has a 1 year low of C$0.23 and a 1 year high of C$0.35. The stock has a fifty day moving average of C$0.29 and a 200-day moving average of C$0.28. The firm has a market capitalization of C$117.72 million, a PE ratio of -1.62 and a beta of -0.99.

About Questerre Energy

Questerre Energy Corp serves the oil and gas sector. The Canada-based company is engaged in the acquisition, exploration, and development of oil and gas projects. It operates non-conventional projects such as tight oil, oil shale, shale oil and shale gas. The segments of the group are Western Canada; Quebec ; and Corporate and others. Western Canada segment involves exploration and development activities in Western Canada including Alberta, Saskatchewan and Manitoba with the existing production of natural gas, crude oil and natural gas liquids.