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Crew Energy Still Cruising After Monday's Acquisition-Fueled Advance

Crew Energy Inc. (CR.TO) continues to benefit from yesterday's $622 million acquisition of Caltex Energy Inc., with shares of the oil and gas company rising another 3% today following a nearly 4% gain on Monday.

The all-stock transaction adds 23.7 million barrels of oil equivalent to Crew's proved reserves and the company yesterday said it now expects to produce between 23,000 to 4,000 barrels of oil equivalent per day this year, up from its previous forecast of daily production in a range between 18,300 to 19,300 barrels.

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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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