Business
Church & Crawford Inc reports operations increase for the fiscal year 2022
Church & Crawford Inc reports operations increase for the fiscal year 2022.
About this update from Church & Crawford, Inc.
[{"type":"text","content":"\n Houston, Texas, June 09, 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. REPORT OF CASH FLOWS FROM MARCH TO MAY 2022 Gas well operations  Natural Gas sold  $38,658.79 Natural Gas Produced but remain unpaid, 21,600 mcf @ $2.30/mcf  $49,680.00 Revenues from Gas wells  $88,338.79 Account Receivable from working interest owners  $35,000.00 Total number of gas wells producing  12 Numbers of wells waiting to go on Pipelines  30 Expected Production when all gas wells are producing, 40 wells  1000 mcfd  Oil well Operations Oil sold  $33,284.29 Oil on hand to be sold, 636 barrels @$94/bbls  $59,784.00 Total Oil Revenue  $93,068.29 Number of oil wells producing  5 Number of Oil wells awaiting production  50 Expected Oil Production from all Wells  100 barrels per day  The company's recent activities contributed to the optimization and improvement of the company's overall value to create further revenue income, in our properties located in Beaver, Canadian, Creek, and Garfield counties in Oklahoma to optimize our existent oil & gas production. Lastly, our reserve report and pending corporate actions are our priority to complete this Q2-2022. These initiatives, designed to enhance the efficiency of the organizational structure including new ventures and acquisitions, are necessary to improve the Company's production levels, reservoirs, and cost-effectiveness. Additional financing through a debt facility will be announced soon. The Company will use this capital to scale and develop the acreage (activate leases, turn wells on, and drill new wells).  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 Exch...