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The Kakwa area is situated approximately 75 kilometres south of Grande Prairie in west central Alberta.
Questerre participated in development drilling at both the Kakwa Central and Kakwa North joint ventures during 2024 and went penalty for the 2025 program at Kakwa Central.
During the year, daily production averaged 2,356 boe/d (2024: 1,452 boe/d) comprising of 7.1 MMcf/d of natural gas (2024: 4.4 MMcf/d) and 1,127 bbl/d of condensate and natural gas liquids (2024: 719 bbl/d).
Capital invested in Kakwa totalled $18.8 million for the year (2024: $19.3 million) Total proved and probable reserves as of December 31, 2025, were estimated at 21.1 MMBoe (2024: 22.5 MMBoe) with a before tax NPV-10% of $124.3 million (2024: $180.6 million). The Company currently holds 40,320 (17,700 net) acres in the Kakwa area.
At Kakwa North, the operator finalized a three well program during 2025. The wells were brought on-stream in the second quarter. The operator is assessing a follow-up drilling program that could commence in the fall of 2026.
At Kakwa Central, the operator commenced a three well program in the fall of 2025. Questerre elected to forego participation in this entire program due to the proposed inter-well spacing that is expected to impact overall well recoveries.
The Company plans to participate in future drilling programs at Kakwa North and Kakwa Central subject to, among other things, commodity prices, and the costs and design of the proposed drilling and completion programs.
