Exploration & Production | Drilling / Well Results | Quarterly / Earnings Reports
Crew Hits New Montney Zone in Q2; Talks Cardium Results
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Crew Energy Inc. has reported its operating and financial results for the three and six month period ended June 30, 2013.
Highlights: Funds from operations were $48.1 million or $0.40 per share, a 43% increase over the first quarter of 2013; Second quarter production averaged 27,109 boe per day or 4% higher than the 25,961 boe per day produced in the first quarter of 2013; Reduced net debt by $23.2 million to $315.7 million or 1.6x annualized second quarter funds from operations; Reduced operating costs by 11% over the first quarter of 2013 to $10.76 per boe; Recently completed three Septimus, British Columbia Montney wells which were drilled during the second quarter in the new Montney "A" zone which have seven day production tests of 7.6 mmcf per day and 205 bbls per day of ngls, 6.5…- ✓ Full news archive — U.S., Canada & international coverage
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