Questerre Energy Reports Significant Q3 Revenue Growth and Increased Production
Questerre Energy (QEC:CA) reported a substantial increase in third-quarter revenue, reaching $50.8 million, which represents a 330.5% year-over-year growth. This surge was driven by a significant rise in production levels, with average daily output climbing to 4,634 barrels of oil equivalent per day (boe/d) compared to 2,926 boe/d in the prior year period. Despite the top-line growth and an adjusted funds flow of $2.35 million, the company's net loss widened to $27.60 million for the quarter. Looking ahead, production showed signs of further recovery, reaching approximately 5,300 boe/d in October.
Topics: financial results net loss production volume revenue growth
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