Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2019
Crew Energy Details 2019 Budget; Up +21% from 2018 Spending
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Crew Energy Inc. as set a 2019 capital budget of $95-105 million.- this is up +21% from $82.5 million (midpoint) for 2018.
Maintain ProductionMaintain Average Production of 22,000 to 23,000 boe per day: 2019 production is expected to be comprised of 27% liquids and 73% natural gas.
The Company currently has approximately 2,000 boe per day of production shut-in, which includes 1,300 boe per day of non-Montney gas production, budgeted to remain shut-in for the entire year at current gas prices. Additionally, 700 barrels per day of shut-in heavy oil is planned to be phased back on production through the second and third quarters as WCS prices are forecast to improve. Drilling PlansCapital Expenditure Focused in the UCR Area: Crew anticipates entering 2019 with seven (7.0 net) drilled…
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