January 17, 2011 / 1:07 PM / 7 years ago

UPDATE 1-Crew Energy says Q4 production up 11 pct sequentially

* Average Q4 production about 14,550 boepd

* 2011 output expected to average 18,000-19,000 boe/day

Jan 17 (Reuters) - Canadian oil and natural gas producer Crew Energy Inc CR.TO said fourth-quarter production rose 11 percent sequentially, helped by higher volumes from its Princess property in southern Alberta. Production in the fourth quarter averaged about 14,550 barrels of oil equivalent (boe) per day.

Crew Energy, which operates mainly in central Alberta and northeast British Columbia, said 2011 production rate is expected to average between 18,000 and 19,000 boe per day.

Princess -- which comprises 454 contiguous sections of Crew-controlled freehold and crown land -- is expected to exit the year with a production of about 12,000 boe per day, the company said.

The board approved a capital budget of C$210 million for 2011. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Roshni Menon)

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