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THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, Dec. 19, 2018 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported on recent developments including the impact of a 325,000 barrel a day curtailment of oil production announced by the Government of Alberta. The curtailment does not apply to the Company’s condensate production in the province. Michael Binnion, President and Chief Executive Officer of Questerre, noted, ”We’re very pleased that the discount between condensate prices in Alberta and the US benchmark West Texas Intermediate (“WTI”) has reduced by over 50% since the announcement of the mandatory curtailment.” Alberta He added, “Record discounts before the announcement will impact our condensate pricing and, as a result, cash flow for the last quarter of this year. We expect residual impacts from these differentials on cash flow in the first half of 2019 that will also see some operational shut-ins in the first quarter. Differentials should continue to normalize throughout next year and the main factor for future cash flows will remain the benchmark WTI price. As a result, we still plan to […]
