Questerre Energy Corporation reported on its fourth quarter 2014 activities and preliminary financial and operating results for the year ended December 31, 2014.
Michael Binnion, President and Chief Executive Officer of Questerre, commented, 'We ended 2014 with a strong fourth quarter with average production of 1,468 boe/d and cash flow from operations of $4.3 million. Our Montney-focused capital program delivered results with a 5.56 MMBoe increase in our proved plus probable reserves at Kakwa.
With our first 1.5 mile wells drilled in the year and improving completion designs, we are making excellent progress. Notwithstanding, with the significant drop in commodity prices, we have cut our capital program for 2015 to focus on the completion and tie-in of wells drilled last year and associated infrastructure.'