MONTREAL — Junex Inc. is looking to become Quebec's first oil producer in decades after announcing that it's recovered through testing the most crude from a single well in the province's history.
The company has applied for a provincial permit to begin production by next spring after saying Tuesday that its Galt No. 4 horizontal well produced nearly 18,000 barrels of light, sweet crude during eight months of testing.
Junex CEO Peter Dorrins says the well should initially produce about 240 barrels a day.
A lighthouse near Gaspe, Quebec, a community some 20 kilometres from a significant oil find by Junex Inc. (Photo: Amartel via Getty Images)
That's a fraction of Quebec's daily oil use but comes from a local source that will benefit an impoverished region and generate government royalties.
The drilling site is located about 20 kilometres from Gaspe in eastern Quebec.
The oil would be produced without resorting to fracturing, which is highly controversial in Quebec.
Preliminary estimates say Junex's Galt property has 557 million barrels of oil, of which about 10 per cent is recoverable.