Crew Energy Inc. reported production results for the first quarter ended March 31, 2023. For the quarter, the company reported 32,963 boe per day (198 mmcfe per day) average production in Q1/23 neared the top end of Crew's guidance range of 31,000 to 33,000 boe per day, slightly ahead of Q4/22 volumes. Crew realized 16% higher condensate production compared to the same period in 2022, illustrating ability to rapidly optimize the production mix to maximize value, along with ongoing operational success that supports a planned ramp up in light oil and condensate production during H2/23.

155,789 mmcf per day of natural gas production in Q1/23, 79% of total production, generating 51% of revenue. 4,643 bbls per day of oil and condensate production in Q1/23, 14% of total production, generating 41% of revenue. 2,355 bbls per day of natural gas liquids (“NGLs”) production in Q1/23, 7% of total production, generating 8% of revenue.