CRESCENT POINT ENERGY CORP. Stock Price, News & Analysis

Crescent Point Energy (CPG) announced the successful acquisition of Shell Canada Energy's Kaybob Duvernay assets for $900 million. This strategic acquisition enhances balance sheet strength and sustainability, improving the company's free cash flow profile and inventory depth. The purchase price reflects a favorable metric of less than 3.0 times net operating income of $330 million at US$50/bbl WTI. The assets are expected to require approximately $180 million in annual capital expenditures to sustain production of 30,000 boe/d.

Crescent Point Energy Corp. (CPG) has filed its Annual Information Form (AIF) for the year ended December 31, 2020, with Canadian securities regulators and its Form 40-F with the U.S. SEC. This filing includes the company's reserves data and other crucial information on oil and natural gas as required by National Instrument 51-101. Investors can access the AIF on Crescent Point's website, SEDAR, and EDGAR profiles. This transparency reflects the company's commitment to regulatory compliance and reporting standards.

Crescent Point Energy Corp. reported strong financial results for the year ended December 31, 2020, highlighting a significant reduction in net debt by over $615 million, achieving adjusted funds flow of $874.4 million. The Company announced a $900 million acquisition of Kaybob Duvernay assets, expected to close in April 2021, enhancing its balance sheet and cash flow generation. The disciplined 2021 budget is projected to generate $375 to $600 million of excess cash flow at WTI prices of US$50 to US$60. Despite a $2.5 billion net loss due to a prior asset impairment, adjusted net earnings stood at $177.4 million.

Crescent Point Energy Corp. has declared a quarterly cash dividend of CDN $0.0025 per share, payable on April 1, 2021, to shareholders of record by March 15, 2021. These dividends are categorized as eligible dividends for Canadian tax purposes and considered qualified dividends for U.S. tax purposes. This move reflects Crescent Point's commitment to returning value to its shareholders, maintaining its operational stability.

Crescent Point Energy has agreed to acquire Shell Canada Energy's Kaybob Duvernay assets for $900 million, comprising $700 million in cash and 50 million shares. This acquisition strengthens Crescent Point's position in a lucrative liquids-rich play, potentially generating $375 to $600 million in cash flow for 2021 at oil prices of US$50/bbl to US$60/bbl. The assets are expected to produce 30,000 boe/d, with future production rising to 35,000 boe/d. This strategic move aims to enhance free cash flow and improve ESG performance.

Crescent Point Energy Corp. plans to release its fourth quarter and year-end 2020 financial results on February 24, 2021, before market opening. Following this, a conference call will be held at 10:00 a.m. MT (12:00 p.m. ET) to discuss the results and future outlook. Participants can join the call via webcast or by phone at 1–888–390–0605. An archive of the call will be available approximately one hour after its conclusion on Crescent Point's website.

Crescent Point Energy Corp. (CPG) announced its 2021 capital expenditures budget of $475 to $525 million and production guidance of 108,000 to 112,000 boe/d. The budget is fully funded at approximately US$40/bbl WTI, with expected excess cash flow of $150 to $300 million at US$45 to US$50/bbl WTI. The company aims for a reinvestment ratio of less than 75%. The 2021 plan emphasizes sustainability and ESG initiatives, targeting a 30% reduction in emissions intensity by 2025. Crescent Point also retains over $2.5 billion in unutilized credit capacity to ensure liquidity amid market volatility.

Crescent Point Energy Corp. reported strong third-quarter results for 2020, generating $120 million in excess cash flow and reducing net debt by over $575 million year-to-date. The company has revised its 2020 production guidance upward while maintaining capital expenditures. Adjusted funds flow reached $235.7 million, or $0.44 per share, supported by a solid operating netback of $21.11 per boe. Crescent Point hedged approximately 70% of its oil production for Q4 2020 at an average price of over CDN$62/bbl. A quarterly cash dividend of $0.0025 per share was declared.

Crescent Point Energy Corp. announced a quarterly cash dividend of CDN $0.0025 per share. This dividend will be paid on January 4, 2021, to shareholders recorded by December 15, 2020. The declared dividends are classified as eligible dividends for Canadian tax purposes and as qualified dividends for U.S. tax purposes. This continuation of dividend payments reflects Crescent Point's commitment to returning value to its shareholders amid ongoing market dynamics.