After regaining financial strength thanks to improved oil and gas prices for growing production, Calgary-based Crescent Point Energy Corp. plans to increase stockholder loyalty rewards instead of accelerating field activity.

Crescent Point Energy

Crescent Point operates primarily in Alberta, Saskatchewan and the Williston Basin of North Dakota.

Crescent Point, which reports in Canadian dollars (C$1.00/US 79 cents), expects spending in 2022 will stay in a range of $825-$900 million set last November, the company said. “This budget remains unchanged, despite a stronger commodity price environment,” said Crescent Point.

“Management remains disciplined and focused on generating significant excess cash flow to create shareholder value.”

A planned first-half 2022 share buy-back will increase...