Quarterly / Earnings Reports | Second Quarter (2Q) Update | Drilling Activity
Crew Energy Touts Increased Montney Condensate Output; Talks Q2 Drilling
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Crew Energy Inc. reported its Q2 2018 results.
Highlights: Growing Montney Condensate Volumes Into Higher Pricing: Q2 condensate volumes of 2,304 barrels per day were 49% higher compared to Q2 2017 as Crew benefited from a 38% increase in realized condensate pricing in the quarter, averaging $82.73 per barrel, compared to $59.90 per bbl in Q2 2017 and $73.82 per bbl compared to the previous quarter. Production Ahead of Forecast: At 23,583 boe per day in Q2, average production volumes were 15% above the Q2 2017 average and 3% above the upper end of our quarterly guidance of 22,000 to 23,000 boe per day. First half production averaged 24,754 boe per day, positioning Crew to meet our 2018 guidance of 23,500 to 24,500 boe per day. Greater Septimus production of 18,953 boe per day was 22%…- ✓ Full news archive — U.S., Canada & international coverage
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