Montney major player in Crew Energy 2015 capital budget

first_img“The first half of our capital program will concentrate on completing construction of our 60 mmcf per day West Septimus gas processing facility and related infrastructure which is anticipated early in the third quarter, as well as completing 12 pre-drilled Monteny horizontal wells which will supply gas to the new facility,” Crew Energy writes in a press release.The capital budget’s heavy focus on building-up Montney production volumes and processing capacity is said to be “in light of the recent volatility and uncertainty in commodity prices.”Meanwhile, Crew Energy is anticipating a temporary slow-down in their Fort St. John production.- Advertisement -“…At Fort St. John, a third party operated deep cut facility will undergo a major turnaround for approximately six weeks in June and July, affecting 2,500 – 3,000 boe per day of crew’s legacy production.”The capital budget is said to be designed with three goals in mind; generate growth from their high-quality asset base, retain their financial flexibility, and target a 13 per cent year-over-year increase in their fourth quarter average production volumes.last_img read more