Questerre Energy Corporation announced cash flow and operating results for the third quarter and capital expenditure for the nine months ended September 30, 2014. For the quarter, the company announced activity in third quarter contributes to current production of over 1,500 boe/d. Kakwa South well tests at over 800 boe/d with an estimated 70 bls/MMcf of total liquids. Kakwa North well results delayed with mechanical failure during completion. Completed and tied-in first multi-well pad on Kakwa JV acreage with laterals of one and a half miles. First commercial scale capsule construction underway by Red Leaf and Total joint venture. Production in the quarter averaged 849 boe/d. Daily volumes in the third quarter averaged 849 boe/d with approximately 100 bbls/d shut-in at Antler and Pierson due to weather. Additionally, Kakwa production was shut-in for a third party plant turnaround in September. This compares to average production of 849 boe/d in the second quarter of 2014 and 880 boe/d for the third quarter of 2013. Oil sales revenue decreased in the third quarter of 2014 compared with 2013 due to lower oil prices and oil volumes.

For the quarter, the company announced cash flow from operations of $2.6 million compared to $3.6 million a year ago. Capital expenditures for the third quarter were $23.36 million.

For the nine months, the company announced capital expenditures of $46.97 million.

The company anticipated production from the Kakwa-Resthaven area should grow in the fourth quarter of 2014 as additional operated and non-operated wells are completed and placed on production.