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Crew's Septimus Montney Potential Hits 111.7 Tcfe in 1Q
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Crew Energy Inc. reported operating and financial results for the three month period ended March 31, 2016, along with an updated independent Montney Resource Evaluation.
Key Points: Invested $18.7 million in capital expenditures in the quarter, 24% less than budgeted, directed at drilling the last four wells of an eight well pad, completing three liquids-rich wells at West Septimus At 111.7 TCFE, Crew's TPIIP estimate provides the Company with significant opportunities to continue increasing the current ECR estimates plus add reserves with further drilling. Crew's risked best estimate ECR on natural gas increased 5% to 7.5 Tcf, natural gas liquids ECR was 32% higher at 225 mmbbls, a result of our highly successful West Septimus drilling program, while our crude oil ECR remained stable…- ✓ Full news archive — U.S., Canada & international coverage
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