Crew Energy to sell Alberta assets for $150 million

Thu Aug 28, 2014 8:34am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

Aug 28 (Reuters) - Oil and gas company Crew Energy Inc said it would sell its liquids-rich assets in Princess, Alberta for $150 million to focus on the development of its core Montney properties in British Columbia.

The company said it would use the proceeds to expand its 2014 Montney capital program and repay debt.

The company said the assets to be sold consist of current production 3,650 barrels of oil equivalent per day, according to field estimates.

It was not immediately clear if the figure was in Canadian or U.S. dollars. (Reporting by Anannya Pramanick in Bangalore; Editing by Saumyadeb Chakrabarty)