RE:Crew drills Montney well in record timeNice find TGC!
I am astounded! I had to pick my jaw up off the floor after reading that Pacesetter report. No wonder Crew added all of the additional wells. They were drilling them 30% faster so cost wise you could add another wellbore with every 3 wells drilled and still stay on budget.
Dale and the gang are really hitting their stride on the Montney. It has been a steep learning curve but it appears they have arrived.
A note on the Lloyd heavy oil assets. I noticed they mentioned the geophyscist's duities included heavy oil. Those Lloyd assets exhibit seismic "bright spots" over the oil reservoirs, so identifying the drilling locations is easy for a good geophyscist. I heard from an industry contact that had viewed the seismic in the Lloyd dataroom that Crew's Lloyd lands are covered with those seismic "bright spots".
In addition, Dale is on InPlay Oil's board and InPlay has been drilling some monster long reach horizontals in the Cardium. If Dale intends to utilize the Lloyd seismic and InPlay's long reach oil drilling and completion techniques, perhaps there is value in drilling the Lloyd assets to extract more value. Crew does have a 4 well Pad licenced and ready to go on the Lloyd property.
Who ever is selling this ticker (Crew employees included) at this point may be missing out on some serious upside!