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Crew Energy Inc T.CR

Alternate Symbol(s):  CWEGF

Crew Energy Inc. is a Canada-based natural gas company. The Company’s operations are focused primarily in the Montney in Northeast British Columbia (NEBC). It has primarily been focused on continued Montney development of its liquid’s rich natural gas area at Septimus / West Septimus (Greater Septimus), and its light oil weighted asset at Tower, British Columbia. Its Montney area assets include Septimus / West Septimus, Tower, Groundbirch, Attachie, Oak/Flatrock and Portage and are situated in northeast British Columbia. Its operations include liquid-rich natural gas and light oil production from the siltstone Montney formation. At up to 300 meters thick, the Montney is developed with long-reach horizontal wells, completed with water-based fracture stimulations. It holds a land base of over 264,000 net acres, out of which approximately 225,000 net undeveloped acres in the Montney with condensate, light oil, liquids-rich natural gas and dry gas.


TSX:CR - Post by User

Post by BeatTheOddsSquaon Aug 14, 2020 11:01am
290 Views
Post# 31408450

Interesting Location for New 7 well Pad

Interesting Location for New 7 well PadI was surprised to find that the location of the new 7 well pad was not offsetting the 3-32 pad where the 5 long reach (>3000 m) horizontals were drilled (4 producing) but rather in the middle of the West Septimus field. It appears that Crew will be drilling 7 wells with horizontal legs of ~2000 m instead. This should greatly reduce the production risk, as these wells are offset buy existing production. Nice safe location with lower per well completion costs.

Some of Crew's ofsetting wells in this area have IP 90 rates of 4 - 5 Mmcf/day which is impressive. This may provide combined IP 90 rates of approximately 28 Mmcf/day for this program. If they can bring those volumes on stream in early Q1 2021, they should benefit from the anticipated winter season natural gas price spike.

To view the new well locations, go to Slide 18 in the investor presentation and look for the well locations with the open circles above the "Septimus" label. You can also see the existing pipeline in black that they will be tieing into.


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