| UPDATE 1-Crew Energy to sell Alberta assets for C$150 mln | |
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(Corrects headline to show currency of reporting is Canadian dollar, not U.S. dollar) Aug 28 (Reuters) - Canadian oil and gas company Crew Energy Inc said it would sell its liquids-rich assets in Princess, Alberta for C$150 million to focus on the development of its core Montney properties in British Columbia. The assets to be sold currently produce 3,650 barrels of oil equivalent per day (boe/d), the company said, citing field estimates. Crew Energy, which bought liquids-rich natural gas assets in Montney for about C$105 million ($96.74 million) this year, said it would raise its 2014 Montney capital program by C$20 million. The company sold its natural gas assets in Alberta to Long Run Exploration Ltd for about C$225 million in April. Crew Energy cut its 2014 average production forecast to 24,500-25,500 boe/d after the deal from 25,500-26,500 boe/d. The Calgary-based company said it expects the deal to close by Sept. 30. ($1 = C$1.0854) (Reporting by Anannya Pramanick in Bangalore; Editing by Saumyadeb Chakrabarty)
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Crew Energy Inc.
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CODE : CR.TO |
ISIN : CA2265331074 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Crew Energy is a producing company based in Canada. Crew Energy is listed in Canada and in Germany. Its market capitalisation is CA$ 991.0 millions as of today (US$ 728.1 millions, € 654.5 millions). Its stock quote reached its highest recent level on February 11, 2005 at CA$ 9.99, and its lowest recent point on March 20, 2020 at CA$ 0.15. Crew Energy has 146 820 000 shares outstanding. |