Crew Energy Inc. Announces 2022 Capital Budget and Continued Execution of Two-Year Plan, Highlighted by Debt Reduction and Per Share Growth in Production and AFF

CALGARY, Alberta, Dec. 08, 2021 (GLOBE NEWSWIRE) — Crew Energy Inc. (TSX: CR, OTCQB: CWEGF) (“Crew” or the “Company”), a growth-oriented natural gas weighted producer operating exclusively in the world-class Montney play in northeast British Columbia, is pleased to confirm that our Board of Directors (the “Board”) has approved a 2022 capital expenditure budget ranging between $70 and $95 million, in-line with our established two-year plan. In 2022, Crew plans to continue targeting increased annual average daily production, expand our adjusted funds flow (“AFF”), and generate free AFF1 for ongoing debt repayment designed to significantly improve leverage metrics (the “Two-Year Plan”). In 2022, we expect to produce enough natural gas to heat over 750,000 average Canadian households for one year2, an achievement of which Crew is extremely proud. Read More