Crescent Point Increases 2022 Production Guidance To 133,000 – 137,000 BOE/D

Crescent Point Energy Corp. (TSX: CPG) reported this morning its formal guidance for 2022. The firm is increasing its production guidance to 133,000 – 137,000 boe/d from the previously announced 131,000 – 135,000 boe/d.

The company relayed that this increase “reflects the positive impact of [its] strong operational performance,” including the recently acquired Kaybob Duvernay assets.

The revised production guidance is comprised of approximately 80% oil & NGLs and 20% natural gas.

The 2022 capital expenditures budget of $825 to $900 million announced previously remains unchanged. The preliminary figure included an increased cost assumption which is now offset by well cost reductions recently realized in the Kaybob Duvernay.

Included in the 2022 budget are capitalized G&A expenditures amounting to $40.0 million and average annual operating expenses of $13.25 – $13.75 per boe.

The firm also expects to generate cash flow amounting to $750 – $1,000 million at US$65/bbl – US$75/bbl WTI.

Crescent Point Energy Corp. last traded at $5.69 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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