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Crew Energy Lowers 2015 Capex and Guidance
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Crew Energy Inc. has announced that the Board of Directors has approved a 2015 capital program of up to $185 million, prudently structured to maintain Crew's strong balance sheet position while providing maximum flexibility for the continued development and growth of our core northeast British Columbia (BC) Montney resource under a variety of commodity price scenarios.
This capital budget is designed to generate growth from our high-quality asset base, retain our financial flexibility, and target a 13% year-over-year increase in our fourth quarter average production volumes. During the first half of 2015, Crew plans to complete construction of the West Septimus gas processing facility, which doubles our natural gas and liquids handling capacity in the area, and to complete wells which are…
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