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 > Another Great Quarter for Crew!

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Comment by gonatgasgoon Nov 04, 2022 10:46am

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Post# 35072994

RE:RE:RE:Another Great Quarter for Crew!

Thank you. Does anybody know why they are drilling at Tower? I thought it was a non-core asset?
Any intelligent guess would be appreciated.

BeatTheOddsSqua wrote: GoNat I seem to recall that the West Septimus plant had a liquids handling capacity of 5000 Bbls per day and Crew states in the Q3 report that Septimus has 1000 Bbls per day capacity for 6000 Bbls/day total.

Q3 reported 4731 Bbls per day condensate production which is 79% of their combined plant capacity. That is getting close to the sweet spot for production rates 80 - 90% capacity.

Crew is increasing the liquid handling capacity at the Septimus plant by 3700 Bbls per day to 4700 Bbls per day which would put their total production capacity to 43,700 Boe/day.

These modifications will allow Crew to increase production at those facilities to approximately 8000 Bbls per day of condensate, which would put Crew in the 36,000 Boe/day range. But wait a minute, Tower is light oil and would be sent directly to market. If the 6 well 15-28 pad at Tower produces 2400 Bbls per day (400 Bbls/day per well) of light oil then total company production could move to the 38,400 Boe/day range.

I believe Crew has the right assets and the right team to increase production to these levels.