RE:RE:RE:RE:RE:RE:National bankster BeattheOdds, don't you think they will bring these wells into production in early 2023? If so, next year's production should be much higher?
BeatTheOddsSqua wrote:
Gonatgasgo, Crew is currently drilling the 6 well B-zone pad at West Septimus/Septimus and they will have to build a pipeline to tie that pad into their gathering system. They are also completing the 5 remaining wells at Groundbirch in August.
Crew appears to be happy to maintain their 32,000 -33,000 boe/day forecast which at the elevated commodity prices will produce amazing AFF. They are working hard on strengthening their balance sheet.
The asset sale has changed everything. The $130 million has taken all of the pressure off, it would have taken free AFF of say $33 million for 4 quarters to reduce their debt by that much and they did it in 1 quarter. The remaining $170 million could possibly be paid off through free AFF by March 2024 (6 quarters) or by additional asset sales (eg. Oak/Flatrock).
Drilling rig info.
Rig: 545
Job: 221
Operator: Crew Energy Inc.
Status: DRILLING
Area: XXX
UWI: /00-00-000-00W0/00
License: 37929
Spud: 12/08/2022 - 13:00
Tight Hole: 0
Type: HORIZONTAL
Product: Gas
OMG this is a great company!
BTOS