Brief: Crew Energy announces a 2017 capital budget of $200 mln

Crew Energy

05/01/2017 12:03

Jan 5 (Reuters) - Crew Energy Inc  CR.TO : 
    * Crew energy announces a 2017 capital budget of $200 
million targeting montney production growth of over 40% 
    * Crew energy inc - 2017 capital expenditure program 
designed to achieve production growth to over 30,000 boe per day 
in q4 of 2017 
    * Forecast q4 2017 exit montney production greater than 
26,000 boe per day achieving year-over-year exit growth of over 
40% 
    * Crew energy - corporate operating costs per boe in 2017 
expected to be between $5.50 and $6.00 per boe, transportation 
costs of $2.25 to $2.50 per boe 
    * Crew energy inc- production additions will be back end 
loaded with west septimus plant expansion expected to be 
completed in q4 
    * Corporate operating costs per boe in 2017 expected to be 
between $5.50 and $6.00 per boe 
    * Crew energy inc - anticipates having three drilling rigs 
running through first half of 2017 in order to complete our 28 
well montney program 
    * Crew energy inc - also plans to complete and tie-in eleven 
net wells which were previously drilled in 2016 
    * By 2020, crew is targeting free cash flow generation at 
current forward strip commodity prices 
    * Crew energy inc - three year montney development plan 
targets production growth to over 60,000 boe per day by end of 
2019 
    * Crew energy - plans to have about 300 mmcf per day of 
processing capacity, 275 mmcf per day of transportation capacity 
in place by end of 2019 
    * Crew energy - plans to have over 20,000 bbls per day of 
liquids handling secured and  in place by end of 2019 
 
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