Crescent Point

Crescent Point Energy Corp. is shifting its budget to center on long-term drilling in Alberta’s liquids-rich shale after landing a $500 million oil asset sale in North Dakota last month. Of a C$1.05-1.15 billion (US$788-862 million) development program in 2024, 70% is now being allocated for northern Alberta Montney and Duvernay geological formations, according to…

Crescent Point Energy Corp. has agreed to acquire a package of liquids-rich assets in the Montney Shale of Alberta in an all-cash deal with Spartan Delta Corp. valued at C$1.7 billion ($1.2 billion). Spartan said the agreement would reward its stockholders with a payment of C$9.50 ($7.12)/share. “Over the past five years, we have fundamentally…

A 102 square-mile spread of west-central Alberta drilling prospects fetched C$375 million ($281 million) in an all-cash purchase by Crescent Point Energy Corp. from Paramount Resources Ltd. The package, in the Kaybob Duvernay area, produces natural gas and natural gas liquids (NGL) at a rate of 4,000 boe/d. About one-half of the well flows are…

Calgary-based Crescent Point Energy Corp. is focused on producing liquids from the Kaybob Duvernay formation while working to control continued supply chain issues through efficiencies, management said. The independent issued its 2Q2022 results in late July, noting it has a wary eye on the inflation threats to profitability. “The company has controlled a significant portion…

Crescent Point Energy Corp. improved the speed at which it drilled wells in the Bakken Shale in North Dakota and the Kaybob Duvernay formation in Alberta, the Calgary-based independent reported Thursday. “During first quarter 2022, Crescent Point commenced completion activities on its second fully operated multi-well pad in the Kaybob Duvernay, which it expects to…

Calgary-based Crescent Point Energy Corp. is continuing its organizational slim-down launched last year by inking a deal to sell Uinta Basin and Saskatchewan assets for C$912 million ($684 million) to undisclosed buyers.