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CWEGF

Crew Energy

$2.32 /

-0.05711 (-2.40%)

07:27
10/28/21
10/28
07:27
10/28/21
07:27

Crew Energy announces transition to pure-play Montney producer

Crew Energy is pleased to confirm the Q3 sale of our Lloydminster heavy oil asset representing the final step of our strategic transition to a pure-play Montney producer, and provide an operational update highlighted by recent drilling success and production volumes of 30,000 boe1 per day based on net field sales estimates. Late in Q3, Crew completed the sale of our Lloydminster heavy oil operations for gross cash proceeds of $10.3 million, representing the streamlining of our asset base. Through this Transaction, approximately 1,050 boe1 per day of primarily heavy oil production was divested from the portfolio. While the Lloydminster volumes represented approximately 4% of Crew's total production volumes, they contributed approximately 19% to our corporate operating costs which are anticipated to decline by approximately $0.70 per boe and improve margins. Given Lloydminster previously represented Crew's most emission-intensive asset, we will have removed 46% of Crew's direct 2020 GHG emissions and anticipate the Company's total GHG emissions intensity will be reduced significantly going forward, putting Crew on a path to reach our emissions reduction goals earlier than anticipated. Divesting of these assets sets the stage for Crew to streamline operations and improve efficiencies going forward while reducing our overall Asset Retirement Obligation liabilities by nearly 40%, representing approximately $34.5 million associated with 609 gross wellbores. This successful completion of the Transaction enables Crew to focus entirely on the world-class Montney play, and improves our environmental impact, positively contributing to the Company's environmental, social and governance goals. Our team is in a stronger position to enhance value as we focus Crew's resources fully to the Montney, where we have the greatest potential to generate returns and secure long-term sustainability. With this divestment, Crew would like to thank the dedicated Lloydminster heavy oil team for their hard work and support over the past 10 years, and particularly through the sale process. We wish to recognize their contributions to Crew's culture and leadership in upholding our commitment to safety, evidenced by achieving three years without a recordable injury at Lloydminster. Crew is also very pleased to confirm that after the impact of the Lloydminster sale, our current production volumes have recently reached 30,000 boe1 per day with record net natural gas sales production of 149 mmcf per day based on field estimates. This level of natural gas production is the highest ever realized by the Company, being produced into a very strong commodity price environment, and reflects the success of Crew's drilling program to date in 2021. This robust production performance is partly driven by volumes coming on stream from the seven wells on our 1-8 pad within the Greater Septimus area, along with our 4-17 land tenure retention pad at Groundbirch. At the 4-17 pad, three wells were completed during Q3,2021 and are currently producing at restricted rates of approximately 32 mmcf of raw gas per day. These wells have been producing for 18 days and will continue to clean-up prior to a two-week period during which volumes will be shut-in while permanent production facilities are installed. The successful validation of this test pad, along with the evaluation of two distinct zones within the Montney, represent strategically important milestones for Crew given that these drilling results are expected to be the foundation for development of a new core area at Groundbirch. Based on a combination of production and pressure test data, we believe that these wells have the potential to be the most prolific gas wells the Company has drilled to date. Crew owns over 70,000 net acres of contiguous land in the Greater Groundbirch area and has an additional five well authorization permits at the 4-17 pad to follow up on the success of the first three wells. We expect that at least two additional zones in the Montney are potentially prospective at Groundbirch and we are currently advancing plans to test those zones in the future. In addition to realizing positive drilling and field operations results, our West Septimus gas processing facility recently achieved a new throughput record of 125 mmcf per day with working interest sales of 115 mmcf per day and a nameplate capacity of 120 mmcf per day of sales gas. These strong volumes are a direct result of incremental production added from the Company's new 1-8 pad along with our 4-17 pad at Groundbirch. Concurrent with these wells coming on-stream and in light of the West Septimus facility being close to capacity, Crew has made infrastructure modifications that allow volumes from the 4-17 pad to flow to, and be processed at, our Septimus gas processing facility, which currently has approximately 40 mmcf per day of excess capacity. This will accommodate new production from the five-well 4-21 pad at West Septimus that is scheduled to begin producing in mid-December. Although we are drilling an additional five wells, Crew is maintaining previous capital expenditures guidance of $150 to $170 million and average production guidance of between 26,000 and 28,000 boe1 per day for 2021. We intend to build on the momentum realized to date, with plans to drill 26 and complete 21 wells by the end of 2021, and to carry forward ten drilled and uncompleted wells into 2022. During the first quarter of 2022, we plan to complete and bring these ten wells onto production through the Septimus gas processing facility. In addition, Crew has available capacity on three major export pipelines to facilitate the transportation to markets of our growing natural gas production.

CWEGF Crew Energy
$2.32 /

-0.05711 (-2.40%)

10/14/21 Scotiabank
Crew Energy price target raised to C$4.25 from C$3.25 at Scotiabank
10/04/21 Desjardins
Crew Energy upgraded to Buy from Hold at Desjardins
09/28/21 National Bank
Crew Energy price target raised to C$3.50 from C$2 at National Bank
09/27/21 BMO Capital
Crew Energy upgraded to Outperform from Market Perform at BMO Capital

TODAY'S FREE FLY STORIES

General news
Fed's Bostic played down risks from the new Omicron variant » 17:40
11/26/21
11/26
17:40
11/26/21
17:40
$ECON

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Fed's Bostic played…

Fed's Bostic played down risks from the new Omicron variant and its impact on the economy in a Fox New interview. Though there could be some slowing in overall activity, he doubted it would be as much as with Delta. He noted there is a lot of momentum in the economy and added it is certainly possible the FOMC could hike rates twice in 2022, stressing the Fed is not going to let inflation get out of control. He remains "very open" to speeding up the pace of the slowing in asset purchases. He sees late Q1 or early Q2 as a possible timeframe for ending purchases. Bostic is a voter this year and was on the dovish side of the spectrum until the last few months as inflation remained elevated.

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General news
Treasury Market Summary » 17:30
11/26/21
11/26
17:30
11/26/21
17:30
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General news
Week of 11/24 Fed balance sheet reserve bank credit $24.8B  16:34
11/26/21
11/26
16:34
11/26/21
16:34
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General news
Week of 11/24 Fed balance sheet total assets $6.8B  16:34
11/26/21
11/26
16:34
11/26/21
16:34
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Week of 11/24 Fed balance sheet level $8.682T  16:34
11/26/21
11/26
16:34
11/26/21
16:34
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Technical Analysis
NASDAQ market internals summary » 16:23
11/26/21
11/26
16:23
11/26/21
16:23
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NASDAQ Market Internals

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Volume is above average…

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Technical Analysis
NYSE market internals summary » 16:22
11/26/21
11/26
16:22
11/26/21
16:22
$NYE

NYSE Market Internals

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Volume is above average…

Volume is above average for this time of day. Breadth is bearish across the board. Advancing Issues: 469 / Declining Issues: 2860 -- for a ratio of 0.2 to 1. Advancing Volume: 346,472,000 / Declining Volume: 3,140,522,000 -- for a ratio of 0.1 to 1. New 52-Week Highs: 21 / New 52-Week Lows: 210.

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Conference/Events
UBS technology analysts to hold an analyst/industry conference call » 16:13
11/26/21
11/26
16:13
11/26/21
16:13
SNOW

Snowflake

$361.94 /

+6.655 (+1.87%)

, CRWD

Crowdstrike

$233.73 /

+2.93 (+1.27%)

, SPLK

Splunk

$125.25 /

+0.2 (+0.16%)

, VEEV

Veeva

$288.19 /

-2.64 (-0.91%)

Technology Analysts…

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VEEV Veeva
$288.19 /

-2.64 (-0.91%)

SPLK Splunk
$125.25 /

+0.2 (+0.16%)

SNOW Snowflake
$361.94 /

+6.655 (+1.87%)

CRWD Crowdstrike
$233.73 /

+2.93 (+1.27%)

SNOW Snowflake
$361.94 /

+6.655 (+1.87%)

11/19/21
Fly Intel: Top five analyst downgrades
11/19/21 Rosenblatt
Snowflake downgraded to Neutral on valuation at Rosenblatt
11/19/21 Rosenblatt
Snowflake downgraded to Neutral from Buy at Rosenblatt
11/16/21 Credit Suisse
Snowflake initiated with an Outperform at Credit Suisse
CRWD Crowdstrike
$233.73 /

+2.93 (+1.27%)

11/24/21 Deutsche Bank
Crowdstrike price target lowered to $300 from $320 at Deutsche Bank
11/18/21
Fly Intel: Top five analyst initiations
11/18/21 DA Davidson
Crowdstrike initiated with a Buy at DA Davidson
11/15/21
Fly Intel: Top five analyst initiations
SPLK Splunk
$125.25 /

+0.2 (+0.16%)

11/17/21 Argus
Argus 'surprised' by Splunk's 'abrupt' CEO dismissal
11/16/21 Mizuho
Splunk price target lowered to $165 from $175 at Mizuho
11/16/21 Credit Suisse
Splunk initiated with an Outperform at Credit Suisse
11/16/21 Deutsche Bank
Splunk price target lowered to $155 from $180 at Deutsche Bank
VEEV Veeva
$288.19 /

-2.64 (-0.91%)

10/01/21 Stifel
Veeva assumed with a Buy at Stifel
09/03/21 SVB Leerink
Veeva price target raised to $296 from $294 at SVB Leerink
09/02/21 UBS
Veeva price target raised to $320 from $270 at UBS
09/02/21 Baird
Veeva price target raised to $349 from $340 at Baird
VEEV Veeva
$288.19 /

-2.64 (-0.91%)

SPLK Splunk
$125.25 /

+0.2 (+0.16%)

SNOW Snowflake
$361.94 /

+6.655 (+1.87%)

CRWD Crowdstrike
$233.73 /

+2.93 (+1.27%)

  • 16
    Mar
CRWD Crowdstrike
$233.73 /

+2.93 (+1.27%)

VEEV Veeva
$288.19 /

-2.64 (-0.91%)

SPLK Splunk
$125.25 /

+0.2 (+0.16%)

SNOW Snowflake
$361.94 /

+6.655 (+1.87%)

CRWD Crowdstrike
$233.73 /

+2.93 (+1.27%)

SPLK Splunk
$125.25 /

+0.2 (+0.16%)

SNOW Snowflake
$361.94 /

+6.655 (+1.87%)

CRWD Crowdstrike
$233.73 /

+2.93 (+1.27%)

Conference/Events
UBS technology analysts to hold an analyst/industry conference call » 16:08
11/26/21
11/26
16:08
11/26/21
16:08
CRM

Salesforce

$283.00 /

-6.155 (-2.13%)

, ZS

Zscaler

$337.00 /

-5.25 (-1.53%)

Technology Analysts…

Technology Analysts provide a recap of salesforce.com and Zscaler reported earnings on an Analyst/Industry conference call to be held on December 1 at 8:30 am.

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ZS Zscaler
$337.00 /

-5.25 (-1.53%)

CRM Salesforce
$283.00 /

-6.155 (-2.13%)

CRM Salesforce
$283.00 /

-6.155 (-2.13%)

11/23/21 BofA
Salesforce price target raised to $360 from $330 at BofA
11/23/21 Jefferies
Salesforce price target raised to $360 from $325 at Jefferies
11/23/21 Citi
Salesforce price target raised to $308 from $280 at Citi
11/22/21 Atlantic Equities
Atlantic Equities assumes 'low-risk' Salesforce at Overweight
ZS Zscaler
$337.00 /

-5.25 (-1.53%)

11/24/21 Deutsche Bank
Zscaler price target raised to $400 from $325 at Deutsche Bank
11/16/21 Credit Suisse
Zscaler initiated with an Outperform at Credit Suisse
11/15/21 Mizuho
Zscaler price target raised to $385 from $320 at Mizuho
11/09/21 BTIG
Zscaler price target raised to $401 from $324 at BTIG
ZS Zscaler
$337.00 /

-5.25 (-1.53%)

CRM Salesforce
$283.00 /

-6.155 (-2.13%)

ZS Zscaler
$337.00 /

-5.25 (-1.53%)

CRM Salesforce
$283.00 /

-6.155 (-2.13%)

ZS Zscaler
$337.00 /

-5.25 (-1.53%)

CRM Salesforce
$283.00 /

-6.155 (-2.13%)

ZS Zscaler
$337.00 /

-5.25 (-1.53%)

CRM Salesforce
$283.00 /

-6.155 (-2.13%)

Hot Stocks
Moderna testing existing and new variant-specific vaccine candidates for Omicron » 15:37
11/26/21
11/26
15:37
11/26/21
15:37
MRNA

Moderna

$331.10 /

+57.83 (+21.16%)

Moderna announced updates…

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MRNA Moderna
$331.10 /

+57.83 (+21.16%)

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$331.10 /

+57.83 (+21.16%)

12:35 Today Piper Sandler
Moderna has been preparing for emergence of new variants, says Piper Sandler
11/23/21 Morgan Stanley
Positive flu vaccine data can drive Moderna 10%-20% higher, says Morgan Stanley
11/19/21 Piper Sandler
Moderna can gain share from Pfizer in booster market, says Piper Sandler
11/12/21 Piper Sandler
Piper keeps $348 target on Moderna after solid tumor data
MRNA Moderna
$331.10 /

+57.83 (+21.16%)

MRNA Moderna
$331.10 /

+57.83 (+21.16%)

MRNA Moderna
$331.10 /

+57.83 (+21.16%)

MRNA Moderna
$331.10 /

+57.83 (+21.16%)

Conference/Events
UBS biotechnology analysts to hold an analyst/industry conference call » 15:29
11/26/21
11/26
15:29
11/26/21
15:29

Biotech Analysts Merle…

Biotech Analysts Merle & Rajavelu provide perspectives on the upcoming Phase 3 Data readouts for ATTR-CM (Transthyretin Amyloid Cardiomyopathy) data readouts on an Analyst/Industry conference call to be held on November 30 at 10 am.

Technical Analysis
NASDAQ market internals summary » 15:23
11/26/21
11/26
15:23
11/26/21
15:23
$NSD

NASDAQ Market Internals

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Volume is above average…

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Technical Analysis
NYSE market internals summary » 15:22
11/26/21
11/26
15:22
11/26/21
15:22
$NYE

NYSE Market Internals

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Volume is above average…

Volume is above average for this time of day. Breadth is bearish across the board. Advancing Issues: 469 / Declining Issues: 2860 -- for a ratio of 0.2 to 1. Advancing Volume: 344,464,000 / Declining Volume: 3,113,466,000 -- for a ratio of 0.1 to 1. New 52-Week Highs: 21 / New 52-Week Lows: 210.

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Conference/Events
UBS technology analysts to hold an analyst/industry conference call » 15:20
11/26/21
11/26
15:20
11/26/21
15:20

Technology Analysts…

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Conference/Events
UBS restaurants analyst to hold analyst/industry conference call » 15:15
11/26/21
11/26
15:15
11/26/21
15:15

Restaurants Analyst…

Restaurants Analyst Geiger, along with a quick serve restaurant coffee franchisee, discuss the industry on an Analyst/Industry conference call to be held on November 29 at 11 am.

Conference/Events
UBS consumer goods analyst to hold analyst/industry conference call » 15:12
11/26/21
11/26
15:12
11/26/21
15:12

Consumer Goods Analyst…

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Conference/Events
Cowen pharma/biotech analysts to hold an analyst/industry conference call » 15:03
11/26/21
11/26
15:03
11/26/21
15:03

Pharmaceuticals Analyst…

Pharmaceuticals Analyst Scala and Biotech Analyst Rodriguez-Dumont discuss the current status and future opportunities for women's health on an Analyst/Industry conference call to be held on December 3 at 10 am.

Conference/Events
Cowen financial services analyst to hold analyst/industry conference call » 14:59
11/26/21
11/26
14:59
11/26/21
14:59

Head of Equity…

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Conference/Events
Cowen media & entertainment analyst to hold analyst/industry conference call » 14:54
11/26/21
11/26
14:54
11/26/21
14:54
DISCA

Discovery

$24.72 /

-0.47 (-1.87%)

Media & Entertainment…

Media & Entertainment Analyst Creutz and TMT Policy Analyst Gallant discusses the Discovery-Time Warner merger-spin including the fundamental value, regulatory risk and when-issued market on an Analyst/Industry conference call to be held on December 2 at 11 am.

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DISCA Discovery
$24.72 /

-0.47 (-1.87%)

DISCA Discovery
$24.72 /

-0.47 (-1.87%)

11/08/21 Macquarie
Macquarie upgrades Discovery to Outperform, raises target to $40
11/08/21 Macquarie
Discovery upgraded to Outperform from Neutral at Macquarie
11/01/21 Bernstein
Bernstein upgrades Discovery to Market Perform, lowers target to $26
11/01/21 Bernstein
Discovery upgraded to Market Perform from Underperform at Bernstein
DISCA Discovery
$24.72 /

-0.47 (-1.87%)

  • 14
    Apr
DISCA Discovery
$24.72 /

-0.47 (-1.87%)

DISCA Discovery
$24.72 /

-0.47 (-1.87%)

DISCA Discovery
$24.72 /

-0.47 (-1.87%)

Conference/Events
Cowen ESG & restaurant analysts hold analyst/industry conference call » 14:47
11/26/21
11/26
14:47
11/26/21
14:47

ESG Policy Analyst Miller…

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General news
FX Action: USD-JPY » 14:40
11/26/21
11/26
14:40
11/26/21
14:40
$ECON

Economic Data

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FX Action: USD-JPY…

FX Action: USD-JPY revealed its safe-haven credentials, falling to near three-week lows of 113.05 on the back of the new Covid variant, and the slide in Treasury yields. The pairing had topped at 115.34 overnight. With answers on the new variant likely to take a couple of weeks, the yen may remain in favor for now.

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Conference/Events
Cowen surface transport/logistics analyst holds analyst/industry conference call » 14:26
11/26/21
11/26
14:26
11/26/21
14:26

Surface…

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Technical Analysis
NASDAQ market internals summary » 14:23
11/26/21
11/26
14:23
11/26/21
14:23
$NSD

NASDAQ Market Internals

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Volume is above average…

Volume is above average for this time of day. Breadth is bearish across the board. Advancing Issues: 919 / Declining Issues: 3632 -- for a ratio of 0.3 to 1. Advancing Volume: 996,010,000 / Declining Volume: 2,412,588,000 -- for a ratio of 0.4 to 1. New 52-Week Highs: 35 / New 52-Week Lows: 349.

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Technical Analysis
NYSE market internals summary » 14:22
11/26/21
11/26
14:22
11/26/21
14:22
$NYE

NYSE Market Internals

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Volume is above average…

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Conference/Events
Cowen retail/luxury goods analyst to hold analyst/industry conference call » 14:22
11/26/21
11/26
14:22
11/26/21
14:22

Retail & Luxury Goods…

Retail & Luxury Goods Analyst Chen, along with RetailNext, discuss Black Friday and Cyber Monday on an Analyst/Industry conference call to be held on November 29 at 11 am.

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