Crescent Point Energy – Oil & Gas 360

Crescent Point Energy to increase Canadian oil production with Hammerhead acquisition

December 28, 2023

World Oil (WO) – Crescent Point Energy Corp. has successfully completed its acquisition of Hammerhead Energy Inc., an oil and liquids-rich Alberta Montney producer. The company is also provided its formal 2024 guidance and five-year plan, which are significantly enhanced because of the acquisition. “Our recent Alberta Montney consolidation marks the completion of our portfolio transformation,” said Craig Bryksa, President

Crescent Point expands Canadian shale presence with $1.5 billion Hammerhead acquisition

November 7, 2023

Yahoo Finance (Bloomberg) — Crescent Point Energy Corp. agreed to buy Hammerhead Energy Inc. for about C$2.05 billion ($1.5 billion) in the driller’s latest deal to expand its presence in the prolific shale oil and gas fields of western Canada. The cash-and-stock acquisition will add about 800 drilling locations and an expected 56,000 barrels of daily oil equivalent production in

Crescent Point Energy sells North Dakota assets for $500 million as oil production declines

August 25, 2023

World Oil (WO) – Crescent Point Energy Corp. has entered into an agreement with a private operator to sell its North Dakota assets for $500 million in cash. This transaction allows Crescent Point to bring forward the expected future value of the assets, as the proceeds equate to over five years of the cumulative excess cash flow that was expected

Crescent Point Energy closes Montney acquisition in Alberta for $1.26 billion

May 12, 2023

World Oil WO) – Crescent Point Energy Corp. has successfully closed its previously announced strategic and accretive acquisition of oil and liquids-rich Montney assets in Alberta for $1.7 billion in cash. This acquisition aligns with Crescent Point’s long-term strategy and enhances the company’s portfolio by adding 600 high-return Montney locations, further extending its premium drilling inventory to 15 years.

Crescent Point shifts to Alberta shale with $1.3 billion Spartan Delta acquisition

March 29, 2023

World Oil (Bloomberg) – Crescent Point Energy Corp. is accelerating its shift into Alberta’s shale plays with a C$1.7 billion ($1.3 billion) acquisition of Spartan Delta Corp.’s assets in the prolific Montney formation. The purchase will add 600 drilling locations and 38,000 boe of production, Calgary-based Crescent Point said Tuesday. The cash acquisition — which will be financed through Crescent

Crescent Point Energy seeks buyer for western Canada oil assets

February 9, 2022

World Oil (Bloomberg) — Canadian light oil producer Crescent Point Energy Corp. is looking to sell a package of lands in Alberta and Saskatchewan that was producing 11,154 barrels of oil equivalent per day as of the fourth quarter of 2021. Crescent Point hired National Bank Financial to market the lands, according to documents obtained by Bloomberg News. The documents

Crescent Point Announces President and CEO, $1 Billion Debt Reduction Goal

September 5, 2018

Crescent Point Announces Strategy Update and Appointment of President and CEO

Crescent Point Adjusts Executive Pay, Cuts Spending in Wake of Shareholder Showdown

May 3, 2018

From the Canadian Press Crescent Point Energy is adjusting its executive pay criteria, cutting $25-million from 2018 capital spending and announcing an asset sale to pay down debt as it faces a showdown with a dissident shareholder at its annual meeting on Friday. It reported a surprise net loss of $91-million, or 17 cents a share, for the three months

Crescent Point Energy Says Cation Will Derail Momentum and Put Shareholders’ Investments at Risk

April 13, 2018

Crescent Point Energy Releases Letter to Shareholders; Warns Cation Will Derail Momentum and Put Shareholders’ Investments at Risk

Crescent Point Energy Grows USA Operations

April 4, 2018

Crescent Point Energy Corp. (ticker: CPG) said its Q1 2018 production and cash flow from its U.S. assets have grown year-over-year by approximately 60% and 175%, respectively. Additionally, the company said its land position in the east shale Duvernay light oil resource play now totals over 355,000 net acres ($315/acre), or 555 net sections. “Our U.S. assets continue to grow

Crescent Point Energy Looks to Exit 2018 with 195,000 BOEPD

January 10, 2018

Uinta HZ inventory climbs to 850 net locations Crescent Point Energy Corp. (ticker: CPG) expects to generate annual average production of 183,500 BOEPD and exit production of 195,000 BOEPD in 2018. The increase will be fueled from its $1.8 billion CapEx spending budget for 2018. Crescent Point had a 2017 exit rate of 183,000 BOEPD, which represented year-over-year production growth

Crescent Point Energy (CPG) Q3: Progress in the Uinta

October 27, 2017

Additional capital heading to Uinta and Williston Q3 Key highlights Achieved Q3 2017 average production growth of 10 percent year-over-year Increased 2017 average production guidance to 175,500 BOEPD from 174,500 BOEPD based on positive operating results Advanced new play development in Uinta and Williston basins, organically expanding resource base and inventory Transacted over $190 million of non-core dispositions at an

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