Crew Energy Inc. Announces Operating Results for the Second Quarter and Six Months Ended June 30, 2019; Provides Production Guidance for the Third Quarter and Full Year 2019
For the six months, the company's total daily production was 23,042 boe/d against 24,754 boe/d a year ago.
For the third quarter of 2019, production is expected to average between 22,000 boe per day and 23,000 boe per day on capital expenditures between $18 million and $22 million.
The company's 2019 capital expenditure budget is expected to range between $95 million and $105 million. Average volumes are forecast between 22,000 boe per dayto 23,000 boe per day, with a steady focus on increasing the weighting of higher valued condensate and liquids within company's production portfolio.