Crew Energy Inc. (CWEGF)
OTC PINK OTC PINK Primary Summary
Crew Energy Inc. Announces Completion of Acquisition By Tourmaline Oil Corp.
CALGARY, Alberta, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Crew Energy Inc. (TSX: CR; OTCQB: CWEGF) ("Crew" or the "Company") is pleased to announce the completion of the acquisition by Tourmaline Oil Corp. ("Tourmaline") of all of the outstanding common shares of Crew (the "Crew Shares") pursuant to a plan of arrangement under Section 193 of the Business Corporations Act (Alberta) (the "Arrangement"). Under the Arrangement, holders of Crew Shares received 0.114802 of a common share of Tourmaline ("Tourmaline Shares") for each one (1) Crew Share held.
Crew Energy Inc. Announces Overwhelming Shareholder Approval for its Strategic Transaction With Tourmaline Oil Corp.
CALGARY, Alberta, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Crew Energy Inc. (TSX: CR; OTCQB: CWEGF) ("Crew" or the "Company") is pleased to announce that at its special meeting (the "Meeting") of the holders (the "Crew Shareholders") of common shares of Crew (the "Crew Shares") held this morning, the Crew Shareholders passed a special resolution (the "Arrangement Resolution") approving the previously announced plan of arrangement under Section 193 of the Business Corporations Act (Alberta) pursuant to which each Crew Shareholder will transfer their Crew Shares to Tourmaline Oil Corp. ("Tourmaline") in exchange for 0.114802 of a common share of Tourmaline for each one (1) Crew Share held (the "Arrangement").
Tourmaline Oil to acquire Crew Energy for $947 million
Tourmaline Oil said on Monday it will acquire Crew Energy in a C$1.3 billion ($947.52 million) deal, which includes debt.
Crew Energy Inc. Profile
| Oil & Gas E&P Industry | Energy Sector | Mr. Dale Orest Shwed CEO | OTC PINK Exchange | CA2265331074 ISIN |
| Canada Country | 53 Employees | - Last Dividend | - Last Split | - IPO Date |
Overview
Crew Energy Inc. is a company primarily focused on the exploration, development, and production of crude oil, natural gas, and natural gas liquids (NGL) within Canada. Founded in 2003, it has established a significant presence in the energy sector, specifically in the northeast British Columbia region. The company's headquarters are situated in Calgary, Canada, serving as the central hub for its operations, strategic planning, and administration. Crew Energy Inc. is known for its dedication to efficient exploration and production techniques, aiming to maximize the value of its principal properties in Montney, an area rich in oil and gas resources.
Products and Services
- Crude Oil Exploration and Production
Crew Energy Inc. explores and produces crude oil, focusing on high-value areas within Canada. By utilizing advanced exploration technologies and methods, the company seeks to ensure the efficient extraction and processing of crude oil, aiming to meet the growing energy demands while adhering to environmental and safety standards.
- Natural Gas Exploration and Production
The company engages in the exploration and production of natural gas. With strategic assets located in key areas such as Montney, Crew Energy Inc. leverages its expertise to develop and operate natural gas projects. Their efforts contribute significantly to Canada's natural gas supply, emphasizing eco-friendly practices and technological innovations to optimize production.
- Natural Gas Liquids (NGL) Production
Apart from crude oil and natural gas, Crew Energy Inc. also focuses on the production of natural gas liquids (NGL). NGL, a valuable by-product of natural gas processing, plays an essential role in various industrial and commercial applications. The company's commitment to NGL production reflects its versatile approach to energy exploration and development, aiming to ensure a diversified portfolio and sustain its market position in the competitive energy sector.
Contact Information
