Debt | Production Rates | Capital Markets | Capital Expenditure | Drilling Program
Crew Energy Ramping Up Montney Drilling Program
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Crew Energy Inc. has provided an operational update and an increase to our 2015 exit production guidance.
Crew's total net debt outstanding at year end 2015 is projected to be approximately $210 million, comprised of $150 million ($147 million net of deferred costs) of senior notes that mature in 2020 and $60 million of bank debt and working capital deficiency on a $260 million credit facility which would be 23% drawn.
Operations & Guidance Update Crew brought our new West Septimus facility on-stream in early August as planned. The facility is currently operating at half capacity as budgeted, processing approximately 30 mmcf per day from only six of the 21 wells now drilled in the area. These wells are producing at choke rates of approximately 30% on average, and although they have been…- ✓ Full news archive — U.S., Canada & international coverage
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