Crew Energy Inc. (TSE:CR) has released an update.
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Crew Energy Inc. has reported a robust first quarter in 2024, with a noteworthy 61% adjusted funds flow margin and a significant 20% increase in condensate production, a key high-value component of their output. Despite a challenging natural gas price environment, the company maintained its production guidance and invested $77.2 million in capital projects, including significant advancements in their West Septimus Gas Plant electrification. The company also demonstrated financial resilience with a solid after-tax net income of $10.6 million and a stable net debt to EBITDA ratio.
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