In 2001, SQUATEX had the status of a private company. Ten years later, in 2011, the company became public (seewww.sedar.com).
In June 2008, a partnership agreement was signed with Petrolympic Ltd from Toronto by which the later acquired a 30% interest over all 36 exploration permits detained in the Province of Québec by SQUATEX.
In November 2008, a joint exploration agreement was concluded between SQUATEX, Petrolympic and Calgary-based Canbriam Energy Inc. to carry exploration works for the Utica shale gas. The agreement allows Canbriam to acquire through a series of drilling options up to a 60% interest over the shale interval of an area of up to 32,000 hectares located southeast of Montreal.