Questerre Falls After Report of Delay in Quebec Shale-Gas Exploratory Well

Questerre Energy Corp. fell the most in two weeks after the company delayed a plan for two test wells in Quebec.

Questerre, based in Calgary, dropped 28 cents, or 14.4 percent, to C$1.67 as of 4:11 p.m. in Toronto.

The company and Talisman Energy Inc. delayed a plan for two shale-gas test wells because of the cost of hiring a crew in Quebec, Anela Dido, a Questerre spokeswoman, said by phone today.

“It’s more cost-efficient to complete them in the spring rather than in the fall,” Dido said.

The delay was reported earlier today by the Globe and Mail. Quebec residents have expressed concerns in public hearings that shale-gas drilling may affect water supplies, the Globe and Mail reported.

To contact the reporters on this story: Kevin Bell in Toronto at kbell2@bloomberg.net Irene Shen in Calgary at ishen4@bloomberg.net.

To contact the editor responsible for this story: David Scanlan at dscanlan@Bloomberg.net

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