Crew Energy Inc T.CR

Alternate Symbol(s): CWEGF

Energy Oil & Gas E&P

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.

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Crew Energy Inc > 2023 Reserves Release

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Comment by gonatgasgoon Feb 05, 2024 6:49am

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Post# 35862475

RE:RE:RE:RE:RE:2023 Reserves Release

We all know condensate production was 7,000 at the end of 2023. We also know there were a number of new wells brought on-line at that time, so the decline rates are quite high for new wells. As a result, without bringing new wells in early 2024, production could not stay at that level.

As for DUCs, I never understand why not to bring these wells on-line as soon as possible. However, I understand that producing wells need to shut down for a couple of weeks during that time.

All of this to say, I would not be surprised if condensate production in 2024 is not higher than 7,000...maybe even a bit lower in 2024 vs 2023.

I hope I am proven wrong.

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