Canadian oil and gas company Crew Energy Inc said it would sell its liquids-rich assets in Princess, Alberta for C$150 million to focus on the development of its core Montney properties in British Columbia.The assets to be sold currently produce 3,650 barrels of oil equivalent per day (boe/d), the company said, citing field estimates.Crew Energy, which bought liquids-rich natural gas assets in Montney for about C$105 million ($96.74 million) this year, said it would raise its 2014 Montney capital program by C$20 million.The company sold its natural gas assets in Alberta to Long Run Exploration Ltd for about C$225 million in April.
Crew Energy Inc. (Crew) is an oil and gas exploration, development and production company. Shares of CR traded higher by 2.2% or $0.24/share to $11.14. In the past year, the shares have traded as low as $5.34 and as high as $12.74. On average, 957119 shares of CR.TO exchange hands on a given day and today's volume is recorded at 985863.
Long Run Exploration, Ltd. is an intermediate oil company focused on light-oil development and exploration in western Canada. Shares of LRE fell by 0.19% or $-0.01/share to $5.34. In the past year, the shares have traded as low as $4.44 and as high as $6.09. On average, 970241 shares of LRE.TO exchange hands on a given day and today's volume is recorded at 1055302.
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