- Crew Energy announced a deal to increase its land exposure in the B.C. Montney.
- The deal was financed by selling C$222 million in Alberta production assets.
- The transactions will reduce my estimated 2014 cash flow by 15% and 2P reserves by 26%.
- Crew Energy disclosed some operational issues in Q1 which could temper results.
- Crew is up 18% this morning and we would take some profits and buy back in later.