Questerre Sees New Hope in Developing Canadian Utica Assets

The province of Québec, Canada, with a huge supply of Utica Shale gas sitting beneath it, passed a new law in 2022 outlawing all oil and natural gas production throughout the province, called Bill 21 (see Quebec Pulls Trigger & Commits Energy Suicide – Bans All O&G Prod.). It was a breathtaking grab of totalitarian power. It’s also energy suicide. Québec said it would pay a piddly $79.5 million (US) to expropriate the oil and gas drilling rights of companies that own them in the province. We’ve seen estimates that those rights are worth more than $5 billion. Questerre Energy, which owns more than 1 million acres of leases and an estimated 6 Tcf of Utica Shale reserves in the province, sued Québec (see Québec May Have to Pay Questerre $4.8B for Utica Drilling Ban). Questerre issued a press release earlier today outlining what it sees as a new hope (our words) for the prospect that the province may change course on drilling in the Canadian Utica.

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