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Crescent Point Energy Corp (CPG)

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  • Sep. 3, 2014, 9:59 AM
    • Crescent Point Energy (CPG -2.9%) agrees to acquire producing conventional oil assets in Saskatchewan and Manitoba, along with undeveloped land, from Lightstream Resources for C$378M ($346M).
    • CPG says the assets produce ~3,300 boe/day, and come with 76 net sections of land adjacent to its existing land base in the area.
    • CPG also raises its 2014 forecast, based on the Lightstream deal and other acquisitions made YTD, along with successful drilling results at its Torquay resource play in Saskatchewan.
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  • Apr. 23, 2014, 3:40 PM
    • Crescent Point Energy (CPG) agrees to acquire privately-held CanEra Energy for $1.1B, including ~112.9M CPG shares, $192 in cash and the assumption of $348M in debt.
    • CanEra is a Saskatchewan oil and gas producer with a large Torquay land position and production of ~10K bbl/day; assets include more than 260 net sections of land with Torquay potential.
    • Based on the deal, CPG revises its 2014 exit production rate forecast to 145K boe/day from 135K and its average daily production outlook to 133K boe/day from 126.5K; funds flow from operations for 2014 is raised to $2.38B from $2.25B.
    • Shares halted.
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  • Nov. 1, 2012, 5:25 PM
    Crescent Point Energy (CSCTF.PK) agrees to acquire privately-held Ute Energy Upstream Holdings, which is focused on the Uinta Basin light-oil resource play in Utah, for $784M in cash. Crescent Point plans a share offering to raise ~C$750M to help fund the purchase, offering the shares at C$40 each.
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  • Jan. 25, 2012, 4:03 AM
    Crescent Point Energy (CSCTF.PK) agrees to buy smaller rival Wild Stream Exploration (WDPIF.PK) for C$770M. Crescent Point expects to buy about 5,400 barrel of oil equivalent per day of Wild Stream's production; the balance will be transferred into a new junior exploration company to be publicly listed and led by Wild Stream CEO Neil Roszell.
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Company Description
Crescent Point Energy Corp is involved in acquiring and holding interests in petroleum and natural gas properties and assets related through a general partnership and wholly owned subsidiaries.