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Crew Energy Announces 2013 Budget Targeting 15% Increase in Liquids Production

Crew Energy Inc. (CR.TO) announced it has approved a 2013 capital budget of $219 million. The 2013 program is designed to focus on the company's operating strategy to invest in the highest rate of return projects while also further defining and capturing hydrocarbon resource. Funding of this program will come from cash flow from operations and bank debt. The 2013 program is expected to provide 15% liquids growth spearheaded by the drilling of 101 (99.0 net) wells with 87% of the wells targeting oil and 13% of the wells targeting liquids rich natural gas.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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