Questerre Energy Corporation (QEC) is an international energy exploration company headquartered in

Calgary Calgary ( ) is the largest city in the western Canadian province of Alberta and the largest metro area of the three Prairie Provinces. As of 2021, the city proper had a population of 1,306,784 and a metropolitan population of 1,481,806, makin ...

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

, and listed on the

Toronto Stock Exchange The Toronto Stock Exchange (TSX; french: Bourse de Toronto) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in t ...

and the

Oslo Stock Exchange Oslo Stock Exchange ( no, Oslo Børs) (OSE: OSLO) is a stock exchange within the Nordic countries and offers Norway’s only regulated markets for securities trading today. The stock exchange offers a full product range including equities, deriv ...

. It holds the largest acreage position in the

Utica Shale The Utica Shale is a stratigraphical unit of Upper Ordovician age in the Appalachian Basin. It underlies much of the northeastern United States and adjacent parts of Canada. It takes the name from the city of Utica, New York, as it was first de ...

in the

Saint Lawrence Lowlands In religious belief, a saint is a person who is recognized as having an exceptional degree of holiness, likeness, or closeness to God. However, the use of the term ''saint'' depends on the context and denomination. In Catholic, Eastern Ortho ...

. Questerre also have operations in Saskatchewan and in the

Montney Formation The Montney Formation is a stratigraphical unit of Lower Triassic age in the Western Canadian Sedimentary Basin in British Columbia and Alberta. It takes the name from the hamlet of Montney and was first described in Texaco's Buick Creek No. 7 w ...

in Alberta.

Background

Questerre is involved in the

oil shale Oil shale is an organic-rich fine-grained sedimentary rock containing kerogen (a solid mixture of organic chemical compounds) from which liquid hydrocarbons can be produced. In addition to kerogen, general composition of oil shales constitute ...

operations through its equity investment in

Red Leaf Resources Red Leaf Resources, Inc, doing business as Green Leaf Carbon Technologies, is an oil-shale technology company based in Salt Lake City, Utah, United States. It is the developer of the shale oil extraction technology HCCO® (Homogeneous Charged Con ...

, an owner of proprietary EcoShale In-Capsule Technology for

shale oil extraction Shale oil extraction is an industrial process for unconventional oil production. This process converts kerogen in oil shale into shale oil by pyrolysis, hydrogenation, or thermal dissolution. The resultant shale oil is used as fuel oil or up ...

and leases in Utah and Wyoming. The company was co-founded in 2000 by the Norwegian businessman Peder Paus and the Canadian businessman Michael Binnion. The largest shareholder for many years was Peder Paus, the company's Chairman until 2015. Binnion has served as CEO since the company's establishment and is now its largest shareholder. The company is included on the

OBX Index The OBX Index is a stock market index which lists the 25 most Market liquidity, liquid companies on the main index of the Oslo Stock Exchange in Norway. All stocks on the OBX list can be traded with option (finance), options and Futures contract, f ...

since December 2017. It was also included on the index between June 2010 and December 2011. Shares closed at USD$0.0701 on May 28, 2020. In their January 2019 Corporate report, QES listed its Canadian assets in Western Alberta, Southeastern Saskatchewan and Southwestern Manitoba, and in Quebec's

. Other assets include shale oil in Utah and in the Kingdom of Jordan. Market capitalization as of January 11, 2019 totaled $126 million.

Management and Board

Peder Paus is a co-founder with Michael Binnion, who is QEC's President & Chief Executive Officer. Other board members include Bjorn Inge Tonnessen, Alain Sans Cartier, Hans Jacob Holden, Earl Hickok, and Dennis Sykora. Managers include John Brodylo, Peter Coldham, Jason D’Silva, and Rick Tityk.

Assets

Questerre continued to acquire land for development of the

gas deposit in Quebec's

but was unable to access regulatory permits from the previous and the current Quebec premiers. To encourage local communities to support local natural gas development, In the December 19, 2018 Boe report, Binnion said that QEC would follow Quebec Oil & Gas Association's "best practice of 3% profit sharing with local communities".

Advocacy

Modern Miracle Network (MMN), is an advocacy organization that was incorporated in 2016 by Michael Binnion and operates out of Questerre Energy's offices. Other MMN board members includes two Questerre Energy staff members other Calgary oil and gas activists, including Painted Pony Energy's Patrick Ward, Perpetual Energy's Susan Riddell Rose and

Tourmaline Oil Tourmaline Oil is a Canadian energy company engaged in the exploration, development, and extraction of crude oil and natural gas. It is headquartered in Calgary, Alberta in Canada. A major natural gas producer, it became the largest natural gas p ...

's Mike Rose. Binnion is chair of the Manning Foundation and a member of the board of governors

Canadian Association of Petroleum Producers Canadians (french: Canadiens) are people identified with the country of Canada. This connection may be residential, legal, historical or cultural. For most Canadians, many (or all) of these connections exist and are collectively the source of ...

(CAPP).

References

External links

*{{official website, www.questerre.com Oil companies of Canada Oil companies of Norway Natural gas companies of Canada Natural gas companies of Norway Multinational companies headquartered in Canada Companies based in Calgary Energy companies established in 2000 Non-renewable resource companies established in 2000 2000 establishments in Canada 2000 establishments in Norway Companies listed on the Oslo Stock Exchange Companies listed on the Toronto Stock Exchange