Business
Church & Crawford Inc announces shareholder update for YTD 2022.
Church & Crawford Inc announces shareholder update for YTD 2022..
About this update from Church & Crawford, Inc.
[{"type":"text","content":"\n Houston, Texas, April 28, 2022 (GLOBE NEWSWIRE) -- 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 an update of operations as the company moves into the next phase of increased production on an average of approximately 10% over the last month, after the rework and re-activated new wells, in addition, has begun an update on the existing reserve evaluation report from 2018 for its additional reserve evaluation estimates and updates for this year 2022, this will include results for our Proved Developed Producing (PDP), Proved Developed Non-producing (PDNP), Proved Undeveloped (PUD), and Probable Undeveloped (PrUD) reserves, the additional work is for the new properties unaccounted from the last reserve report. Church & Crawford Vice President Timothy Roberson said, “our properties located in Oklahoma’s counties Beaver, Canadian, Creek, Garfield, Garvin, Kingfisher, Oklahoma, Okmulgee, Woods, and Woodward Counties have shown significant progress since our new implementation plan started on the past February 2022 and we will continue to bring back more inactive wells into production and optimize our existent oil & gas production through reduced production cost, improved production rates.”. Our plan for the rest of this year 2022, focuses on our properties located on Oklahoma’s “STACK play” in the Anadarko Basin, today we provide additional field services on approximately 20 to 30 wells on four of our more important leases, this will create further revenue income, in addition to increasing our proven reserves in a short amount of time in supporting Church & Crawford’s core business. We will continue to update our shareholders as soon as more information becomes available. 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 1...