Crew Energy Inc. reported production results for the fourth quarter and full year ended December 31, 2019. For the quarter production of 22,446 boe per day was in-line with the same period in 2018 while capital spending was approximately 21% lower. Production in Q4/19 was 2% lower than the Q3/19 average of 22,824 boe per day as wells in the UCR area were shut-in for offsetting completion operations.

Full year 2019 production averaged 22,837 boe per day and was at the high end of the Company's annual guidance range of 22,000 to 23,000 boe per day. The positive production contributions from 12.0 net new wells brought on line in the UCR area during the year were partially offset by natural production declines, voluntary shut-ins of sub-economic natural gas production, pipeline outages that occurred during the second quarter of 2019 and a third-party facility outage in Northeast British Columbia ("NE BC").

For the first half of 2020, the company expects total production of 22,000 boe/d to 23,000 boe/d.
For the year 2020, the company expects total production of 20,500 boe/d to 21,500 boe/d.