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Questerre Energy Corp (Canada) T.QEC

Alternate Symbol(s):  QTEYF

Energy Oil & Gas E&P
Questerre Energy Corporation is an energy technology and innovation company. It is engaged in the acquisition, exploration, and development of oil and gas projects, in specific non-conventional projects such as tight oil, oil shale, shale oil and shale gas. It holds assets in Alberta, Saskatchewan, Manitoba and Quebec in Canada, as well as in the Kingdom of Jordan (Jordan). Its oil shale assets include its project in Jordan and its investment in Red Leaf Resources Inc. (Red Leaf). It plans to utilize the Red Leaf technology for its project in the Kingdom of Jordan. In Quebec, the project has a comprehensive program to test the carbon storage potential including injection and monitoring wells, compression facilities and a pipeline to an adjacent industrial park. Its Kakwa area is a liquids-rich Montney natural gas resource play situated over 75 kilometers (km) south of Grande Prairie in west central Alberta. Its Antler area is over 200 km southeast of Regina in southeast Saskatchewan.


TSX:QEC - Post by User

Questerre Energy Corp (Canada)
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Post by vlad2bon Dec 21, 2009 8:08am
680 Views
Post# 16606303

Marcellus shale valuation

Marcellus shale valuation

Ultra Petroleum to buy Marcellus shale acreage

I noticed the following this morning on Marketwatch:

NEW YORK (MarketWatch) -- Ultra Petroleum Corp. /quotes/comstock/13*!upl/quotes/nls/upl (UPL51.06, +1.21, +2.43%) said it'll pay $400 million to buy 80,000 acres in the PennsylvaniaMarcellus shale, from an unnamed private company. Following theacquisition, Ultra Petroleum will hold approximately 250,000 net acresin this region, with the potential for 1,800 net drilling locations.Ultra Petroleum will finance the acquisition using debt. TheHouston-based natural gas producer expects the transaction to close inlate February 2010.

This has implications for valuation of the Utica shales, n'est-ce-pas?

Best wishes to all,

Joel

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