Canadian independent Crescent Point Energy Corp. is moving its natural gas exposure away from the AECO price point. The company has reduced its AECO exposure to about 20% of production, management said in its fourth quarter earnings call. AECO often trades at a discount to more lucrative markets such as the U.S. Midwest and Gulf…
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Crescent Point Building Montney Portfolio with Spartan Delta Deal
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…
March 29, 2023
Crescent Point Bolts On More Gassy Kaybob Duvernay Assets
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…
December 12, 2022
Crescent Point Boosting Spending for ‘Active’ Oil, Gas Drilling in Kaybob Duvernay
Calgary-based Crescent Point Energy Corp. recorded a 10% increase in natural gas production during the third quarter, but the company is focusing on the Kaybob Duvernay formation for liquids growth over the next five years. Management said natural gas output hit 144.3 MMcf/d during the quarter, up from 130.8 MMcf/d a year earlier. Natural gas…
November 8, 2022
Transportation Notes
NOVA said Friday the NPS 20 Kaybob Lateral had been repaired and was back in service Wednesday after a line break had been discovered nearly two weeks earlier (see Daily GPI, Aug. 14). There was no customer impact associated with the break, NOVA said.
August 28, 2006
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