March 5, 2018 / 7:40 AM / 3 months ago

BRIEF-Questerre Energy ‍in farm-in deal to develop its Kakwa area

March 5 (Reuters) - Questerre Energy Corp:

* QUESTERRE TO DEVELOP KAKWA NORTH ACREAGE WITH PARTNER

* ‍ENTERED INTO AN AGREEMENT WITH AN EXPERIENCED OPERATOR TO DEVELOP ITS 100% OWNED ACREAGE IN KAKWA AREA​

* ‍FIRST WELL AT KAKWA NORTH SHOULD SPUD NEXT QUARTER, SUBJECT TO RIG AVAILABILITY​

* ‍GIVEN STRONG CONDENSATE PRODUCTION AND LOW SOUR CONTENT FROM NEARBY WELLS ON OUR JOINT VENTURE ACREAGE WE ARE LOOKING FORWARD TO RESULTS​

* ‍WITH THIS JOINT VENTURE WE ARE DEVELOPING OUR OPERATED ACREAGE AND PRESERVING CAPITAL PRIMARILY FOR QUEBEC​

* ‍FARM-IN PARTNER IS AN EXPLORATION AND PRODUCTION COMPANY WITH EXTENSIVE OPERATING EXPERIENCE WITH MONTNEY FORMATION​

* ‍FARM-IN PARTNER HAS RIGHT TO DRILL, COMPLETE, EQUIP AND TIE-IN TWO HORIZONTAL WELLS TARGETING MONTNEY FORMATION TO EARN A 50% INTEREST IN CERTAIN ACREAGE​ Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

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