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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 gonatgasgoon Apr 16, 2024 8:50am
124 Views
Post# 35991131

Crew's Production at these prices

Crew's Production at these prices
The text below is from their annual report.  As we know, they were drilling quite a bit in Q1.

Active Q1 Capital Program – Our previously announced Q1/24 net capital expenditure forecast remains unchanged and is designed to:

Allocate $75 to $85 million of net capital expenditures.
Drill six (6.0 net) wells, complete five (5.0 net) wells and equip and tie-in 11 (11.0 net) Montney wells in Q1/24.
Result in forecast average Q1/24 production of 29,000 to 31,000 boe per day, which includes the impact of an anticipated 2,100 boe per day of production that is currently shut-in for offsetting completion and construction operations.


One would think that these wells must be producing at full capacity right now.  I am not sure what the price of condensate is right now, but WTI in C$ is over C$117.  Crew was saying last year that 1,000 boe/d of Condensate at C$100 was generating $30M of AFF annually.


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