January 5, 2017 / 12:26 PM / in a year

BRIEF-Crew Energy announces a 2017 capital budget of $200 mln

Jan 5 (Reuters) - Crew Energy Inc :

* Crew energy announces a 2017 capital budget of $200 million targeting montney production growth of over 40%

* Crew energy inc - 2017 capital expenditure program designed to achieve production growth to over 30,000 boe per day in q4 of 2017

* Forecast q4 2017 exit montney production greater than 26,000 boe per day achieving year-over-year exit growth of over 40%

* Crew energy - corporate operating costs per boe in 2017 expected to be between $5.50 and $6.00 per boe, transportation costs of $2.25 to $2.50 per boe

* Crew energy inc- production additions will be back end loaded with west septimus plant expansion expected to be completed in q4

* Corporate operating costs per boe in 2017 expected to be between $5.50 and $6.00 per boe

* Crew energy inc - anticipates having three drilling rigs running through first half of 2017 in order to complete our 28 well montney program

* Crew energy inc - also plans to complete and tie-in eleven net wells which were previously drilled in 2016

* By 2020, crew is targeting free cash flow generation at current forward strip commodity prices

* Crew energy inc - three year montney development plan targets production growth to over 60,000 boe per day by end of 2019

* Crew energy - plans to have about 300 mmcf per day of processing capacity, 275 mmcf per day of transportation capacity in place by end of 2019

* Crew energy - plans to have over 20,000 bbls per day of liquids handling secured and in place by end of 2019 Source text for Eikon: Further company coverage:

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