Between all basins, Crescent Point and Encana will spend 30% and 20% less in 2019 than 2018.

These transactions are a considerable step forward in our ongoing plan to focus our asset base.”. Based on strip prices and the announced dispositions, total net debt is expected to be reduced to approximately $2.75 billion at year-end 2019, resulting in a pro-forma net debt to adjusted funds flow ratio that is lower by approximately 0.4 times. Crescent Point is a leading North American light oil producer, driven to enhance shareholder returns by cost-effectively developing a focused asset base in a responsible and sustainable manner. CALGARY, Sept. 3, 2019 /CNW/ – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX and NYSE: CPG) is pleased to announce that it has entered into definitive agreements with select parties to sell its Uinta Basin asset in its entirety and certain southeast Saskatchewan conventional assets for total cash consideration of approximately $912 million.
CALGARY - Crescent Point Energy Corp. is selling its Uinta Basin asset in Utah and certain southeast Saskatchewan conventional assets for a total of approximately $912 million. The Company’s revised 2019 guidance also incorporates the impact of converting additional producing wells to waterflood injectors as part of its commitment to decline mitigation.

Crescent Point is now targeting approximately 175 to 200 injection well conversions in 2019 compared to its original budget of approximately 145 conversions. Crescent Point Energy has agreed to offload its Uinta Basin asset in the US and certain southeast Saskatchewan conventional assets in Canada for a total sum of around C$912m (£563m) in separate deals with undisclosed parties. Mason Daniels. The conventional assets being sold include approximately 7,000 boe/d of current production (70% crude oil and 85% total liquids) and 49.2 MMboe of 2P reserves. { The chart below shows 2019 CapEx budgets for the top two drillers. Due to a lack of disclosure on costs from Encana or prior by Newfield Exploration, BTU Analytics benchmarked well costs to Crescent Point’s D&C costs. Participants can listen to this event online at: https://event.on24.com/wcc/r/2038229/4E7B63991413CE3D8761994554595E5C. Adjusted funds flow from operations as presented is not intended to represent cash flow from operating activities, net earnings or other measures of financial performance calculated in accordance with IFRS. "s": "TVC:USOIL+NYMEX:ICL1! The oil and natural gas reserves contained in this press release have generally been prepared in accordance with Canadian disclosure standards, which are not comparable in all respects of United States or other foreign disclosure standards.

Based on the announced dispositions, Crescent Point expects approximately 49 percent of its oil and liquids production, net of royalty interest, to be hedged upon closing in fourth quarter and approximately 35 percent in 2020. BMO Capital Markets and CIBC Capital Markets acted as Crescent Point’s financial advisors on this transaction and each provided a fairness opinion to the Board of Directors, subject to the assumptions, qualifications and limitations contained therein. Alternatively, the conference call can be accessed by dialing 1-888-390-0605. SOUTHEAST SASKATCHEWAN CONVENTIONAL ASSET DISPOSITION. }, TradingView.com Help us to improve EnergyNow, Give us your feedback, Edge Computing Is Gunning for SCADA – Geoffrey Cann, WHO’S NEXT? Management believes the presentation of the Non-GAAP measures above provide useful information to investors and shareholders as the measures provide increased transparency and the ability to better analyze performance against prior periods on a comparable basis. Tudor, Pickering, Holt & Co. represented the Company as its strategic advisor. From the same investor presentations, Crescent Point Energy’s planned development phase wells were aiming for targets of $4.2 million and $7-8.5 million.

"d": "CDN Light Sweet"

Can Service Companies Make It to the Recovery? The decline represents an approximate 15% decrease in D&C costs per well.

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