- Crew Energy (TSX:CR:CA) (OTCQB:CWEGF) said Friday that its production averaged 30,928 boe per day in the fourth quarter of 2023, a 15% increase from 26,834 boe per day in Q3.
- The company also provided its 2024 budget, which forecasts net capital expenditures of $165 to $185 million.
- Crew’s budget for 2024 includes development capital of $105 to $115 million, which is budgeted to maintain production at levels similar to 2023, between 29,000 and 31,000 boe per day.
- Crew said it invested about $54 million in Q4, 17% lower than the midpoint of guidance of $65 million.
- Net debt decreased 21% at year-end to about $117 million compared to year-end 2022.
- Press Release.