operationsmontney resource core operating areasmontney lloydminster reserves & resourcesdetailed resource disclosure investorsstock information presentations & events financial reports shareholder meetings analyst coverage hedging tax information news releasessubscribe to news careerscrew culture current opportunities responsibilityhealth & safety environment community investment investors we focus on per share growth in production reserves and funds flow through the development of our large and attractive montney asset base . footer links careers we are an exciting growth oriented oil and gas company who has realized continued success due to our attractive asset base and industry leading team . responsibility we have a strong commitment to conducting our business and operations in a socially environmentally and fiscally responsible manner about crew we are a growth oriented oil and natural gas producer focused in the montney resource play in northeast british columbia . operations our activities are concentrated in the montney resource play in northeast british columbia which offers light oil liquids rich natural gas and dry gas development . sharpening our focus crew is a dynamic growth oriented exploration and production company focused on increasing our long term production reserves and cash flow through the development of our world class montney resource . more info news crew energy inc. announces second quarter 2016 financial and operating results august 4th 2016 crew energy inc. announces annual meeting results for election of directors may 19th 2016 crew energy inc. announces first quarter 2016 financial and operating results and updated montney resource evaluation may 5th 2016 view all news releases subscribe to news learn about our operations in ... the montney the company is focused on the development and expansion of its oil and natural gas assets particularly its large undeveloped land base located in the montney resource ... learn more quick links you can get the most recent corporate updates on crew energy by viewing our latest corporate presentation financial reports and news releases . q2 2016 full report corporate presentation october 2016 annual review glossary abbreviations aeco the natural gas storage facility located at suffield alberta . api american petroleum institute api an indication of the specific gravity of crude oil measured on the api gravity scale . bbl barrel bbl d barrels per day bcf billion cubic feet boe or boe barrel of oil equivalent on the basis of 6 mcf boe for natural gas and 1 bbl boe for crude oil and natural gas liquids bopd barrels of oil per day csa canadian securities administrators dpiip discovered petroleum initially in place gj gigajoule m thousands of dollars m3 cubic metres mbbl thousand barrels mboe 1 000 barrels of oil equivalent mcf thousand cubic feet mcf d thousand cubic feet per day mmbbl million barrels mmbtu million british thermal units mmcf million cubic feet mmcf d million cubic feet per day ngls or ngls natural gas liquids tcf trillion cubic feet tcfe trillion cubic feet equivalent tpiip total petroleum initially in place upiip undiscovered petroleum initially in place wti west texas intermediate the reference price paid in u.s. dollars at cushing oklahoma for crude oil of standard grade definitions contingent resources contingent resources are those quantities of petroleum which are estimated on a given date to be potentially recoverable from known accumulations but which are not currently considered to be commercially recoverable ... read more contingent resources are those quantities of petroleum which are estimated on a given date to be potentially recoverable from known accumulations but which are not currently considered to be commercially recoverable . it is recognized that some ambiguity may exist between the definitions of contingent resources and unproved reserves . this is a reflection of variations in current industry practice . it is recommended that if the degree of commitment is not such that the accumulation is expected to be developed and placed on production within a reasonable timeframe the estimated recoverable volumes for the accumulation be classified as contingent resources . contingent resources may include for example accumulations for which there is currently no viable market or where commercial recovery is dependent on the development of new technology or where evaluation of the accumulation is still at an early stage . discovered petroleum initially in place dpiip discovered petroleum initially in place dpiip is that quantity of petroleum which is estimated on a given date to be contained in known accumulations plus those quantities already produced therefrom . dpiip may be ... read more discovered petroleum initially in place dpiip is that quantity of petroleum which is estimated on a given date to be contained in known accumulations plus those quantities already produced therefrom . dpiip may be subdivided into commercial and sub commercial categories with the estimated potentially recoverable portion being classified as reserves and contingent resources respectively as defined elsewhere in this glossary . gross or gross relating to production reserves crew s working interest operating and non operating share before deduction of royalties and without including any royalty interestrelating to wells the total number of wells in ... read more relating to production reserves crew s working interest operating and non operating share before deduction of royalties and without including any royalty interestrelating to wells the total number of wells in which crew has an interestrelating to properties the total area of properties in which the corporation has an interest net or net relating to production reserves crew s working interest operating and non operating share after deduction of royalty obligations plus crew s royalty interests in production or reservesrelating to wells the number ... read more relating to production reserves crew s working interest operating and non operating share after deduction of royalty obligations plus crew s royalty interests in production or reservesrelating to wells the number of wells obtained by aggregating crew s working interest in each of its gross wellsrelating to properties the total area in which crew has an interest multiplied by the working interest owned by crew ni 51 101 national instrument 51 101 standards of disclosure for oil and gas activities . national instrument 51 101 standards of disclosure for oil and gas activities . operating netback a measure of oil and gas sales net of royalties production and transportation expenses . this is a non gaap measure used specifically in the oil and gas industry as a benchmark to compare performance between different ... read more a measure of oil and gas sales net of royalties production and transportation expenses . this is a non gaap measure used specifically in the oil and gas industry as a benchmark to compare performance between different areas of operations and different peer companies . prospective resource prospective resources are those quantities of petroleum which are estimated on a given date to be potentially recoverable from undiscovered accumulations . prospective resources are those quantities of petroleum which are estimated on a given date to be potentially recoverable from undiscovered accumulations . total petroleum initially in place tpiip total petroleum initially in place tpiip is that quantity of petroleum which is estimated to exist originally in naturally occurring accumulations . tpiip is that quantity of petroleum which is estimated on a given ... read more total petroleum initially in place tpiip is that quantity of petroleum which is estimated to exist originally in naturally occurring accumulations . tpiip is that quantity of petroleum which is estimated on a given date to be contained in known accumulations plus quantities already produced therefrom plus estimated quantities in accumulations yet to be discovered . tpiip may be subdivided into discovered petroleum initially in place and undiscovered petroleum initially in place with discovered petroleum initially in place being limited to known accumulations . it is recognized that all petroleum initially in place quantities may constitute potentially recoverable resources since the estimation of the proportion which may be recoverable can be subject to significant uncertainty and will change with variations in commercial circumstances technological developments and data availability . a portion of those quantities classified as unrecoverable may become recoverable resources in the future as commercial circumstances change technological developments occur or additional data are acquired . undiscovered petroleum initially in place upiip undiscovered petroleum initially in place upiip is that quantity of petroleum which is estimated on a given date to be contained in accumulations yet to be discovered . the estimated potentially recoverable portion ... read more undiscovered petroleum initially in place upiip is that quantity of petroleum which is estimated on a given date to be contained in accumulations yet to be discovered . the estimated potentially recoverable portion of upiip is classified as prospective resources as defined elsewhere in this glossary . contact sitemap terms of use advisories website by upanup studios 2016 crew energy inc. address suite 800 250 5th street sw calgary alberta t2p 0r4 telephone 403 266 2088 fax 403 266 6259