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.
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.
Nov. 1, 2012, 5:25 PMCrescent 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. | Comment!
Jan. 25, 2012, 4:03 AMCrescent 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. | Comment!
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