Deals - Acquisition, Mergers, Divestitures
Crew Energy Ups Ante in Montney Play for $86MM
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Crew Energy Inc. has reported two transactions in the Company's British Columbia Montney resource play area of operations.
Through the combination of these two transactions, Crew will increase its Montney land position from 130,748 net acres to over 150,000 net acres. The Company is consolidating Montney lands within the Septimus/Groundbirch corridor proximal to Company infrastructure and reducing the Company's net debt position by approximately $86 million subject to closing adjustments.
Kobes TransactionCrew has executed a definitive agreement to sell, for $108 million prior to closing adjustments, approximately 15,800 net acres of liquids rich Montney land in the Kobes area with current production of approximately 625 boe per day (29% liquids) and one cased horizontal well awaiting…
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