Crescent Point Closes Agreement to Dispose of Remaining Non-Core Southeast Saskatchewan Conventional Assets
Crescent Point Energy Corporation Ordinary Shares (Canada) (CPG)
Last crescent point energy corporation ordinary shares (canada) earnings: 3/5 06:30 am
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Source: PR Newswire
CALGARY, AB, June 7, 2021 /PRNewswire/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) and (NYSE: CPG) has completed the disposition of its remaining non-core southeast Saskatchewan conventional assets ("Assets"), which were previously identified as disposition candidates, for cash proceeds of $93 million ("Transaction"). As a result of the Transaction, Crescent Point also reduced asset retirement obligations ("ARO") by approximately $220 million, or nearly 25 percent of its ARO balance as at March 31, 2021. Proceeds from the disposition have been directed to the Company's balance sheet. Crescent Point considered the Assets to be non-core due to the significant associated ARO, operating expenses that were substantially higher than the corporate average and limited scalability. The Assets also generated minimal free cash flow, after incorporating development capital required to sustain production and reclamation activities, despite contributing annual net o
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CPG
Earnings
- 2/29/24 - Miss
CPG
Sec Filings
- 3/20/24 - Form 6-K
- 3/7/24 - Form 6-K
- 2/29/24 - Form 6-K
- CPG's page on the SEC website