Questerre Energy Sells Kakwa Assets, Boosts Production

0:00It's April 24th. Welcome in. This is Canada News Today, where local news meets AI. I'm Corey with the story, Questair Energy Corp. Just announced it's selling its minority stake in the Coquist Central assets up in Alberta for $23.5 million in cash. This move ditches some liabilities and contract commitments tied to the site, streamlining their operations big time. The deals got the buyer taking on decommissioning costs, plus those firm transportation and processing agreements. CEO Michael Binion says it beefs up the balance sheet without diluting shares through new equity smart play as they pivot to hotter prospects. Coquist Central was pumping around 650 barrels of oil, equivalent per day in the first quarter of 2026. That's solid output, but it's a fraction of what they're eyeing next door. Post sale, expected to wrap on May 1st pending approvals, their production should jump over 4,500 barrels of oil, equivalent per day. That includes their 50% working interest in the adjacent Coquan North assets.

1:05This shift keeps Questair a lean and focused, positioning them strong for growth in a competitive energy game.