Crew Energy Inc. - CR-T

Company Website 

Company Highlights: 

  • Crew is a Montney liquids rich natural gas producer in NE BC. Production in Q2/22 rose 33% to 35,044 boe/d (75% natural gas) from 26,712 boe/d in Q2/21. Funds flow came in at $115M or $0.76 per share in the quarter versus $25M or $0.17 per share in Q2/21.
  • With the Montney gas reserves needed for the LNG projects on the west coast of BC, Crew could be a takeover candidate as the LNG industry ramps up output in 2025 into the end of this decade.
  • Crew has 157M shares outstanding and a market capitalization of over $800M. Insiders are significant shareholders.
  • We see CR generating $2.80 in cash flow in 2022. Our Bull Market Peak Target for CR is $15.00 per share.

Please check the SER Ownership page for full disclosures as we are shareholders of Crew Energy.
 

Dale Shwed
Dale Shwed
President & CEO
Mr. Dale Shwed is the President and Chief Executive Officer of Crew Energy Inc. an exploration and production company with operations in British Columbia. Mr. Shwed graduated from the University of Alberta with a Bachelor of Science degree in Geology in 1980 and has held positions of increasing responsibility with various exploration and production companies before founding Baytex Energy Ltd. a public exploration and development Company in 1993. He was the President and Chief Executive Officer overseeing the operations of the Company growing production to over 40,000 boepd. In 2003, Baytex Energy Ltd. was reorganized into Baytex Energy Corp. and Crew Energy Inc. Mr. Shwed has served on the Board of Directors of TORC Oil & Gas from November 2012 to February 2021 and is on the Board of Directors of Inplay Oil Corp. and Lucero Energy
John Leach
John Leach
Executive Vice President & CFO
Mr. Leach was a founding member of Baytex Energy Ltd. beginning in 1993, serving in the Company’s finance department in increasing roles of responsibility culminating as its Vice President, Finance from 1998 to the time of its reorganization in September 2003. At that time, Mr. Leach became Vice President, Finance and CFO of Crew Energy Ltd. Mr. Leach has over 25 years of experience in the Canadian oil and gas and accounting industries, having worked for KPMG, LLP prior to joining Baytex. Mr. Leach has been Chartered Accountant since 1991 and graduated from the University of Saskatchewan with a Bachelor of Commerce degree. Mr. Leach is on the Board of Directors of Tamarack Valley Energy.