Montney Assets - Northeast BC (NE BC)
Our Montney area assets include Septimus / West Septimus, Tower, Groundbirch, Attachie and Portage and are situated south and west of Fort St. John, British Columbia. Our operations include liquids rich natural gas and light oil production from the siltstone Montney formation. At up to 300 metres thick, the Montney is developed with long-reach horizontal wells, completed with water-based fracture stimulations of up to 40 stages. Crew holds approximately 474 net sections of Montney rights in NE BC with condensate, light oil, liquids-rich natural gas & dry gas, and only 11% of our Upper Montney lands have been assigned reserves to the end of 2015. For context, while our Septimus area represents 73% of Crew's overall corporate proved developed producing reserves and is our most developed Montney asset, the developed land base in that area represents only 2% of our total Montney acreage. An independent resource study was completed by Sproule Associates Ltd. effective December 31, 2015 which assessed Crew’s Montney land to hold approximately 111.7 Trillion Cubic Feet Equivalent ("TCFE") of Total Petroleum Initially in Place (“TPIIP”) and Contingent Resource of 9.0 TCFE(2). This affords Crew significant long-term development opportunities.