Questerre Energy (TSE: QEC) shares rose on 4 January on news that a Total SA-Chesapeake Energy venture will seek stakes in Canadian shale businesses, The Calgary Herald reports.

Questerre is a shale explorer in the Utica shales area within the St. Lawrence region Quebec, Canada,along with partner Talisman Energy, the report stated. Total on 4 January announced a USD 800m deal to buy a 25% stake in Chesapeake Energy's Barnett Shale gas fields within north Texas. In addition, Total and Chesapeake stated that within their new relationship they will seek stake in other "shale-gas regions" such as Canadian gas shale areas where Total has previously indicated interest.

The report stated that Aubrey McClendon, Chesapeake's chief executive officer, declined to name which Canadian shale plays his company would consider as possible investments during a company conference call.