To improve its balance sheet, the company is looking at several areas, including upstream asset dispositions and cost reductions.

This portion is seven townships east to west, from the Manitoba border to Range 2W2, and four townships south to north, from the U.S. border to Township 4. That’s broken down into 438 Midale, 28 Frobisher/Alida, 43 Bakken and 210 Torquay targets.

The company currently believes a straightforward plan is the best approach to executing its transition. These plays, which include Viewfield, Shaunavon and Flat Lake, provide attractive returns, free cash flow, long-term scalability and reliable market access.

This region has the most diversity of targets, with five potential formations to drill into for a total of 281 targets.

As at June 30, 2018, Crescent Point had a net debt to funds flow from operations of over 2.0 times and cash and unutilized credit capacity of approximately $1.5 billion, with no material near-term debt maturities. Such a purchaser could also potentially fund key future infrastructure projects, further increasing Crescent Point’s financial flexibility, market access and overall returns. ... Crescent Point Energy is an independent exploration and production company. Theft from oil and gas lease site under investigation, Miners commemorate the anniversary of the Estevan Riot, Mining company fined $150,000 for workplace injury, Clean Fuel Standard a second carbon tax, says Saskatchewan’s minister of Energy and Resources. Once the company reaches its debt goals, that will free up money for returning capital to shareholders, including possible share repurchases, longer term capital projects, and net debt reduction. These positive criteria supported our decision to allocate more capital to these resource plays in 2019.

The company expects this realignment to provide annual savings of over $50 million through reductions in both operating and general and administrative expenses.

Today's Trading.


“Since announcing our transition plan to become a more focused and efficient company with a stronger balance sheet in late 2018, our team has worked diligently to improve our company’s financial position through disciplined capital allocation and cost reductions.

This year, we are volunteering at the show, sponsoring a lunch and are proud that one of our team members is on the Saskatchewan Oil & Gas Show board.

The “Pinto” area runs from just east of Estevan for five townships to Range 3W2, and from the U.S. border north for up to five townships to Township 5. Following that period, Crescent Point expects its organic growth rate to increase in priority, including strong debt-adjusted metrics, as a product of a more focused and efficient production base. We encourage our employees to attend this event because it is a great opportunity to build professional relationships, meet with vendors and learn about new technologies. The total offering includes over 1,560 identified drilling locations, with over 500 booked. The company responded on May 17, stating, “Crescent Point is proud to support the communities in which we operate as well as the Saskatchewan Oil & Gas Show. The transition plan is designed to create a “new Crescent Point,” with a focused asset bas, stronger balance sheet, improved free cash flow and lower debt.
This map is in Crescent Point’s “Southeast Saskatchewan Light Oil Portfolio Offering.”, Weyburn police investigates SaskPower fatalities. Basically, almost everything east of Highway 47, except for part of the Viewfield Bakken around Forget and Kisbey, is for sale. Successfully completed 2019 program on budget, demonstrating strong operational execution and capital discipline.

Your support is vital to helping us provide free local news. Calgary – There’s a lot of buzz going around southeast Saskatchewan, as Crescent Point Energy Corp. put up for sale six significant tracts of properties earlier this year, after a decade of serial acquisition.

Land expenditures in 2019 are expected to be modest at approximately one to two percent of incremental capital. Volume.

Weyburn police investigates SaskPower fatalities, Theft from oil and gas lease site under investigation, Miners commemorate the anniversary of the Estevan Riot, Mining company fined $150,000 for workplace injury, Clean Fuel Standard a second carbon tax, says Saskatchewan’s minister of Energy and Resources. Price Quote as of.

Crescent Point updates production guidance and outlook September 1, 2020 5:30 AM; Crescent Point announces Q2 2020 results and appointment of director July 30, 2020 4:30 AM; Crescent Point Confirms Quarterly Dividend July 30, 2020 4:25 AM; Crescent Point … In making the initial announcement back in October that the company would be retaining and focusing on its Viewfield Bakken, Flat Lake and Shaunavon plays (Shaunavon being in southwest Saskatchewan), this is born out in the offering.

Find the latest Crescent Point Energy Corporati (CPG) stock quote, history, news and other vital information to help you with your stock trading and investing.

Pinto is listed as having 6,150 boepd, but only 73 per cent of that is oil and NGLs. As part of the company’s cost reduction initiatives, Crescent Point is finalizing an organizational restructuring that includes an immediate workforce reduction of approximately 17 percent of employees. While no sales were announced during the Crescent Point first quarter financials announcement on May 9, there’s plenty of anticipation of something coming up one of these days.

“Crescent Point is working to become a stronger company to ensure our company, employees, Saskatchewan residents, investors and community partners can all benefit from the responsible and safe development of Saskatchewan’s vast resources.”. He expects a 10 per cent improvement in capital efficiency. Crescent Point also identified several opportunities for improvement, which will be focal points over the next 12 to 24 months. There’s also a portion south of Weyburn. TSX Real-Time Last Sale CAD .

“We wanted to ensure the assets were high return, but also had scalability to allow for significant organic growing room,” Bryksa said. We recognize that change will not happen overnight, however, we expect to deliver ongoing improvement in the company’s financial position, profitability and sustainability,” Bryksa concluded.

“After taking a refreshed approach in reviewing our business, we will look to refocus our asset base into fewer operating areas, follow a more disciplined capital allocation process and reduce our costs. The annualized net operating income is $255 million, with operating netbacks of $32.35 per boe. “I want to thank all of our staff for their hard work and contributions over the years,” said Bryksa. In a press release and conference call on Sept. 5, the company it was an adoption of a new clearly defined transition plan with measurable deliverables. Calgary – There’s a lot of buzz going around southeast Saskatchewan, as Crescent Point Energy Corp. put up for sale six significant tracts of properties earlier this year, after a decade of serial acquisition. This band is roughly two townships wide, from north to south, and runs between the Viewfield conventional and Flat Lake in its western portion.

Today's Change. Also notable is the fact most of the land in the region close to the Carlyle field office is up for sale. They are targeting a net debt reduction of over $1.0 billion by year end 2019, at current strip commodity prices, through a disciplined return-focused budget and asset dispositions.

Average production from these assets over Q2, 2018 was approximately 23,000 boepd, or 13 per cent of the company’s total production.

He was promoted from within, having most recently served as vice president, engineering west.

It’s reducing its areas of focus, cutting its staff by 17 per cent, and selling off up to 50,000 barrels of oil per day (boepd) in production, 28 per cent of its current production. Pipeline News asked Crescent Point via email for comment about upcoming Saskatchewan Oil and Gas Show in Weyburn, as well as this current property sale, with the understanding it is still in process. Crescent Point’s cash flow sensitivity in 2019, inclusive of current hedging, is approximately $45 million for every US$1/bbl change in WTI.

Find the latest Crescent Point Energy Corporati (CPG) stock discussion in Yahoo Finance's forum.

Pipeline Newsobtained a copy of the company’s “Southeast Saskatchewan Light Oil Portfolio Offering” earlier this year, which listed National Bank and Scotiabank as the two banks involved.

Crescent Point intends to finalize its 2019 guidance upon the completion of its 2018 capital program. He pointed out the company will focus on risk-adjusted returns instead of simple volume growth. Crescent Point is targeting a net debt reduction of more than $1 billion by year end 2019 at current strip commodity prices. The company’s transition plan also includes an ongoing review of its operating and capital costs, including the implementation of field automation to further increase efficiencies. Other considerations included free cash flow potential and the ability to improve commodity market access. Lastly the reduced workforce is expected to result in an annual total expense savings of over $50 million.

Under his direction, the company is placing greater emphasis on returns versus growth during its 12 to 24 month transition. Crescent Point considered a number of value enhancing options as part of its streamlining process, ranging from asset divestitures to more complex scenarios.

Mr. François Langlois is an oil and gas executive who brings more than 35 years of domestic and international experience to the Crescent Point Board.

The aforementioned Pierson centres around that Manitoba village, and runs from the U.S. border to Township 6, and is four townships wide, from the Saskatchewan border to Range 26W1. The Amaranth has 66 targets, 40 in Frobisher/Alida, 84 in the Tilston, 29 in the Bakken, and 30 in the Torquay. Crescent Point’s 2018 guidance remains unchanged, with an annual average production of 177,000 boepd and $1.775 billion of capital expenditures. With asset sales being partially dependent on prevailing market conditions, the company plans to be flexible in its divestitures program.

There is a high working interest of 86 per cent in primarily operated production. This initial production range reflects various capital allocation scenarios and does not account for potential dispositions during the second half of 2018. Your support is vital to helping us provide free local news. I care deeply about this company, and I am looking forward to the opportunity to work with our current and prospective shareholders to re-establish Crescent Point within the investment community.”. Since the North Dakota production is growing significantly, it is expected to be around 20,000 boepd. As of the week of Dec. 23-29, 2018, the properties had 20,099 boepd in production, of which 90 per cent was oil and liquids, and a base production decline of 20 per cent. This includes having Identified certain midstream assets for potential monetization.

The company’s objective in conducting the review was to identify measures to prioritize Crescent Point’s strategy based on key value drivers, which include balance sheet improvement, disciplined capital allocation and cost reductions. These savings partly reflect the recent restructuring of the executive team, which is also expected to result in approximately 20 percent lower annual compensation for current named executive officers in 2018 compared to 2017.

Day Low 1.68.

“We would like to thank our shareholders for their patience during this time.

Starting from the west is the “Greater Tatagwa,” which appears to include property in the Weyburn Unit.

Now the company will be focusing its asset base by pursuing significant upstream asset divestitures.

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