February 23, 2011 / 1:53 PM / in 7 years

UPDATE 1-Crew Energy raises 2011 production forecast

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Feb 23 (Reuters) - Canadian oil and natural gas producer Crew Energy Inc raised its 2011 capital budget and production forecast.

The company, which operates mainly in central Alberta and northeast British Columbia, now sees 2011 capital budget of C$260 million, up from its prior view of C$210 million.

It expects 2011 production to average between 18,300 and 19,300 barrels of oil equivalent (boe) per day, with an exit production of 21,000-22,000 boe per day.

It had earlier forecast 2011 production rate to average between 18,000 and 19,000 boe per day.

Crew Energy said 2010 proved plus probable reserves rose 14 percent to 74.7 million boe. (Reporting by Bhaswati Mukhopadhyay in Bangalore)

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