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    CPG   CA22576C1014

CRESCENT POINT ENERGY CORP.

(CPG)
  Report
Delayed Toronto Stock Exchange  -  04:00:00 2023-01-31 pm EST
9.940 CAD   +1.53%
01/11Paramount Resources Declares C$1.00 Special Dividend as it Closes C$370-Million Property Sale
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01/11Crescent Point Energy Corp. (TSX:CPG) acquired Additional Kaybob Duvernay assets from Paramount Resources Ltd. (TSX:POU). for CAD 370 million.
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2022CRESCENT POINT ENERGY CORP. : Ex-dividend day for
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Canada's Crescent Point to buy Kaybob Duvernay assets for $275 million

12/09/2022 | 09:22am EST

(Reuters) - Canadian oil and gas producer Crescent Point Energy Corp said on Friday it will buy Kaybob Duvernay assets in Alberta from Paramount Resources Ltd for C$375 million ($275.49 million) in cash.

The deal bolsters Crescent's inventory in the Duvernay play to over 20 years, with its land position increasing to about 400,000 net acres.

Calgary, Alberta-based Crescent added it plans to grow its Kaybob Duvernay asset to over 55,000 barrels of oil equivalent per day (boepd) within its five-year plan, from 35,000 boepd in 2022.

The assets include about 130 net drilling locations across nearly 65,000 net acres of land.

To reflect the deal, Crescent raised its 2023 annual average production guidance to between 138,000 boepd and 142,000 boepd from a previous outlook of between 134,000 boepd and 138,000 boepd.

The energy company has also increased its first-quarter base dividend by 25% to 10 Canadian cents per share.

The deal will be funded through existing credit facilities and is expected to close during January 2023, Crescent said.

Last year, Crescent purchased Kaybob Duvernay assets from oil major Royal Dutch Shell's unit for C$900 million.

U.S.-listed shares of Crescent are up 1.1% at $6.7 premarket.

($1 = 1.3612 Canadian dollars)

(Reporting by Ankit Kumar; Editing by Krishna Chandra Eluri)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL 1.28% 85.48 Delayed Quote.-1.80%
CRESCENT POINT ENERGY CORP. 1.53% 9.94 Delayed Quote.3.11%
PARAMOUNT RESOURCES LTD. 1.99% 30.76 Delayed Quote.5.31%
SHELL PLC -0.04% 2374 Delayed Quote.2.11%
WTI 0.00% 79.218 Delayed Quote.-0.08%
All news about CRESCENT POINT ENERGY CORP.
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Analyst Recommendations on CRESCENT POINT ENERGY CORP.
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Financials
Sales 2022 4 176 M 3 132 M 3 132 M
Net income 2022 2 198 M 1 648 M 1 648 M
Net Debt 2022 1 155 M 866 M 866 M
P/E ratio 2022 2,58x
Yield 2022 2,79%
Capitalization 5 532 M 4 148 M 4 148 M
EV / Sales 2022 1,60x
EV / Sales 2023 1,74x
Nbr of Employees 748
Free-Float 99,6%
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Technical analysis trends CRESCENT POINT ENERGY CORP.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 13
Last Close Price 9,94 CAD
Average target price 13,98 CAD
Spread / Average Target 40,7%
EPS Revisions
Managers and Directors
Craig Bryksa President, Chief Executive Officer & Director
Kenneth R. Lamont Chief Financial Officer
Barbara Munroe Chairman
Justin Foraie Vice President-Engineering & Marketing
Ryan Gritzfeldt Chief Operating Officer
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