Business
Church & Crawford Inc announces Report on Economic and Potential Recoverable Assessment in Anadarko Basin Interests
Church & Crawford Inc announces Report on Economic and Potential Recoverable Assessment in Anadarko Basin Interests.
About this update from Church & Crawford, Inc.
[{"type":"text","content":"Houston, Texas, May 12, 2022. Church & Crawford Inc (CCWF) is an oil and gas exploration and production (E&P) company focused on proven fields exploited by well-managed independent oil companies extracting reserves at lower risk and lower cost than unproven prospects. We are focused on domestic and international areas where major oil and gas producing companies have reduced their exploration efforts in search of larger reserves. Management is pleased to announce that has requested MKM Engineering to complete economic estimated prospective resources up to April 2022. This study will show a reserve report estimate and detail development schedules for Church & Crawford’s acreage and generate a forecast of future net revenues and discounted cash flows, this will include additional work for the new properties unaccounted from the last reserve report in 2018. Church & Crawford Vice President Timothy Roberson said, “Our company has strategically waited to develop its asset portfolio together with its venture partners to fully take advantage of its lease position. The projected figure is just an estimation based on previous Reserve Report studies of the area together with a conservative oil price range from 2018. With Triple-digit oil prices and current market conditions, a great level of profitability undermines the risk associated with oil and gas exploration/drilling. As we approach the third quarter, we will communicate more on Drilling Plans for this year and other opportunities we have ahead.\" Legal Notice Regarding Forward-Looking Statements:This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. About Church & Crawford Inc. Headquartered in Houston, Texas, Church & Crawford Corporation is a public traded company (CCWF). Church & Crawford Inc is an independent oil and gas company. The company is acquiring oil and gas leases, producing properties, mineral rights, and surface interests. Once acquired, the company intends to develop each property to maximize the income from each property by refurbishing and improving the existing production. Forward-Looking Statements: can give no assurance that such expect...