Crane Co T.CR

Primary Symbol: CR Alternate Symbol(s): CXT

Technology Scientific & Technical Instruments

Crane Company is a manufacturer of engineered components for mission-critical applications focused on the aerospace, defense, space and process flow industry end markets. Its segments include Aerospace & Electronics, Process Flow Technologies, and Engineered Materials. The Aerospace & Electronics segment supplies critical components and systems, including original equipment and aftermarket parts, primarily for the commercial aerospace, and the military aerospace, defense and space markets. The Process Flow Technologies segment is a provider of engineered fluid handling equipment for critical applications. The Engineered Materials segment manufactures fiberglass-reinforced plastic panels and coils, primarily for use in the manufacturing of recreational vehicles, truck bodies and trailers (Transportation). It also designs and manufacturers multi-stage lubrication pumps and lubrication system components technology for critical aerospace and defense applications.

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Crane Co > Is Crew selling their Heavy Oil Assets?

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Comment by BeatTheOddsSquaon Oct 09, 2020 6:04pm

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Post# 31699651

RE:RE:RE:Is Crew selling their Heavy Oil Assets?

Gonat,

The 20 - 22,000 Boe/day would be the 2021 exit rate accounting for the sale of heavy oil assets and with no capital expenditures in 2021.

The 2020 capital budget of $75 million was reduced by $58 million from facitity interest sale to $17 million. This was redeployed on the 7 well pad which will keep production flat through 2021 with no additional spending.

The sale of the heavy oil assets could possibly raise $20 - $30 million which could be put toward debt reduction in 2021 on top of the 2021 gas and liquids revenue. If no capital is required in 2021, Crew may have up to $100 million for debt reduction.

Thoughts?

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