Brief: Crescent Point Completes Strategic Alberta Montney Consolidation And Provides Improved 2024 And Five-Year Outlook

Veren

21/12/2023 15:01

Dec 21 (Reuters) - Crescent Point Energy Corp  CPG.TO :
    * CRESCENT POINT COMPLETES STRATEGIC ALBERTA MONTNEY
CONSOLIDATION
AND PROVIDES IMPROVED 2024 AND FIVE-YEAR OUTLOOK
    * CRESCENT POINT ENERGY CORP: REMAINS ON TRACK WITH ITS 2023
GUIDANCE
    * CRESCENT POINT ENERGY CORP- NOW EXPECTS TO GENERATE ANNUAL
AVERAGE PRODUCTION OF 198,000 TO 206,000 BOE/D (65% OIL AND
LIQUIDS) IN 2024
    * CRESCENT POINT ENERGY CORP SEES 2024 DEVELOPMENT CAPITAL
EXPENDITURES OF $1.4 TO $1.5 BILLION
    * CRESCENT POINT ENERGY CORP: PLANS TO ALLOCATE 45 PERCENT
OF ITS
2024 BUDGET TO ALBERTA MONTNEY
    * CRESCENT POINT ENERGY CORP: ANNUAL PRODUCTION IS FORECAST
TO
GROW TO APPROXIMATELY 260,000 BOE/D IN 2028 UNDER ITS FIVE-YEAR
PLAN
    * CRESCENT POINT ENERGY CORP-  EXPECTS ALBERTA MONTNEY
PROGRAM TO
GENERATE $750 MILLION TO $950 MILLION OF EXCESS CASH FLOW IN
2024
    * CRESCENT POINT: UNDER 5-YEAR PLAN, EXPECTS TO GENERATE
EXCESS
CASH FLOW/SHARE GROWTH OF 7% ON COMPOUNDED ANNUAL BASIS
    * CRESCENT POINT ENERGY CORP- COMBINED ALBERTA MONTNEY,
KAYBOB
DUVERNAY ASSETS EXPECTED TO REPRESENT 80 PERCENT OF COMPANY'S
TOTAL PRODUCTION IN 2028
    * CRESCENT POINT ENERGY: EXCESS CASH FLOW OF $750 MILLION TO
$950
MILLION EXPECTED IN 2024 AT US$70 TO US$75 WTI, WITH 60 PERCENT
RETURNED TO SHAREHOLDERS
    * CRESCENT POINT ENERGY CORP- PLANS TO CONTINUE ALLOCATING
60
PERCENT OF ITS EXCESS CASH FLOW TO DIVIDENDS AND SHARE
REPURCHASES IN INTERIM

Source text for Eikon:  ID:nCNWc3P9Ma 
Further company coverage:  CPG.TO 

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