Crew Furthers Montney Focus With Princess Disposition

摘要

Crew Energy Inc. (TO: CR) announced Aug. 28 it entered into an agreement to sell its petroleum and natural gas assets in the Princess area of Southeast Alberta for roughly $138.1 million (C$150 million). The buyer wasn’t disclosed. The sale will allow Calgary’s Crew to sharpen its focus on the development of its core Montney assets in Northeast British Columbia. Proceeds from the sale will be used to expand the company’s 2014 capital program in the play by $18.4 million (C$20 million) and repay bank debt.