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BRIEF-Crew Energy Inc Says Quarter End Net Debt Of $337.7 Million Was 3% Lower Than Q4/19

Published 2020-05-07, 06:25 p/m
Updated 2020-05-07, 06:30 p/m

May 7 (Reuters) - Crew Energy Inc CR.TO :

* CREW ENERGY INC. ANNOUNCES FIRST QUARTER 2020 FINANCIAL AND OPERATING RESULTS

* CREW ENERGY INC QTRLY PRODUCTION OF 23,894 BOE PER DAY

* CREW ENERGY INC - QUARTER END NET DEBT OF $337.7 MILLION WAS 3% LOWER THAN Q4/19

* CREW ENERGY INC - PLANS TO COMMENCE SHUTTING-IN ADDITIONAL PRODUCTION IN MAY, 2020

* CREW ENERGY INC - CURRENTLY ANTICIPATES SHUT-INS OF APPROXIMATELY 750 BOE PER DAY AT LLOYDMINSTER

* CREW ENERGY INC - MAINTAIN ANNUAL PRODUCTION GUIDANCE OF 20,000 TO 22,000 BOE PER DAY

* CREW ENERGY INC - ANNUAL CAPITAL BUDGET RANGE HAS BEEN REDUCED TO $35 TO $40 MILLION

* CREW ENERGY INC QTRLY LOSS PER SHARE $1.27

* CREW ENERGY INC QTRLY PETROLEUM AND NATURAL GAS SALES $38.1 MILLION VERSUS $55.5 MILLION

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