cr industry oil ngl s founded 2003 headquarters calgary ab key people john a.brussa chair dale o.shwed pres ceo dir products coalbed methane light oil natural gas number of employees 71 sept 2010 subsidiaries crew resources website crewenergy.com crew energy inc. is a light oil and natural gas producer operating and based in western canada . it has over 612 000 acres 2 480 km2 of undeveloped land representing 71 % of the total land base jan. 2011 . production currently takes place in alberta and ne british columbia pesisko is at the southern border of the 2 provinces . the company has begun experiencing rapid growth especially at princess alberta where production rose almost 4 fold between 2008 and the end of 2010 2 200 boe d 8 000 bbl d 1 300 m3 d equivalent . 1 unlike many of its canadian counterparts crew puts a lot of emphasis on natural gas and light oil . it also operates natural gas processing facilities west tide lake at princess alberta the infrastructure there is 100 % owned . the company is 12 % owned by its employees . helping the company is its recycle ratios gets back much of the money it invests in projects from those projects operations . also its most important asset princess doesn t require fracture stimulation giving crew more control . 2p reserves are 65.7 mbbl 10 450 000 m3 equivalent 2010 end which is about twice what they were at the end of 2008 about a third of which is natural gas 122 10 9 cu ft 3.5 109 m3 . production in the fourth quarter of 2010 was 14 500 bbl d 2 310 m3 d equivalent but the company is planning on using its 210 million capital budget to increase that by 30 % for 2011 up to 19 000 bbl d 3 000 m3 d equivalent 52 % light oil . 2 3 contents 1 history 2 operations 2.1 exploration 3 references 4 external links history edit crew energy was incorporated may 12 2003 a month before it changed its name to crew energy inc. june 27 . on january 1 2009 it amalgamated with publicly traded subsidiary gentry resources ltd tsx gny . 4 exploration and production activity began only after a deal with baytex energy in which it acquired 1 500 bbl d 240 m3 d equivalent of oil and natural gas producing assets only 200 bbl d 32 m3 d of that was oil the rest was natural gas . in terms of its corporate structure there is one 100 % owned subsidiary called crew resources ; managing partner crew energy partnership owns all of the oil and gas properties . 5 on april 1 2010 it sold edson production oil and gas in west central alberta for cdn 126 million . 6 on may 2 2011 crew energy paid 622 million in stock and assumed debt for privately held caltex a heavy oil and natural gas liquids company . caltex owns deposits of heavy oil in lloydminster saskatchewan and natural gas liquids in wapiti alberta . 7 operations edit for the 2010 fiscal year ends in december the company produced at a rate of 13 700 bbl d 2 180 m3 d equivalent oil and gas combined 2.16 % lower than the 12 months prior but still 17.9 % more than in 2008 and 464.25 % more than it did at the end of 2004 . 1 107 of the 112 net wells it is scheduled to drill in 2011 will be at the princess oil property in se alberta . alberta princess alberta 8 800 bbl d 1 400 m3 d equivalent of production has up to 20 mbbl 3 200 000 m3 equivalent of prospective proved in place oil reserves and another 149 kbbl 23 700 m3 equivalent of resource at producing locations . pesisko fairways over 10 projects underway jan 11 controls most of the about half of them produce over 300 bbl d 48 m3 d equivalent cardium 2 locations had initial production of 600 bbl d 95 m3 d equivalent each . is a joint partnership with other producers . pine creek alberta oil has an api of 42 degrees much lighter than heavy oil which is below 20 degrees edson rosevear british columbia montney land crew controls only a fraction of the land . one of its gas plants located near the septimus gas pool connected to the alliance pipeline is undergoing expansion that will bring production up to 50 thousand cu ft d. 5 695 hectares of land in the montney region was bought for 3.4 million giving it better access to the 80 drilling sites in the area . portage is considering building a pipeline on the western portion of the land it controls . septimus 5 horizontal wells planned aimed at taking production up to 6 000 bbl d 950 m3 d equivalent of natural gas . 2 exploration edit exploration activity is happening mostly around montney bc and horn river . references edit a b crew energy 2010 annual report presentation pdf . january 2011 . a b crew energy ramps up drilling at princess oil site near brooks . 2011 01 18 . crew energy by hoovers gentry resources shareholders approve takeover of company by crew energy gentry crew . 2008 08 21 . crew energy ebook 2010 pdf . 2010 . crew enters into agreement to sell edson area assets . 2010 03 10 . crew energy acquires caltex for 622 million . the globe and mail . toronto . 2011 05 02 . external links edit official website retrieved from https en.wikipedia.org w index.php title crew energy & oldid 704319030 categories oil companies of canadanatural gas companies of canadacompanies based in calgaryenergy companies established in 2003non renewable resource companies established in 2003companies listed on the toronto stock exchanges & p tsx composite index navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 10 february 2016 at 22 01 . text is available under the creative commons attribution sharealike license ; 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