The company said Thursday it will now pay a quarterly base dividend of
Crescent Point says its profit for the quarter ended
Total oil and gas sales were
Average daily production in the quarter was 162,269 barrels of oil equivalent per day, up from 134,124 boe/d in the same quarter in 2022.
Adjusted funds flow from operations were
"This past year was pivotal in our company's history as we successfully transformed our portfolio," Crescent Point chief executive
"Through this execution, we have materially enhanced the long-term sustainability of our business, including by increasing our premium drilling inventory to over 20 years and enhancing our excess cash flow profile on a per share basis."
Crescent Point solidified its place as the dominant player in the
The acquisition saw Crescent Point add about 105,000 acres and 800 drilling locations in the region, immediately making the company the largest landowner in the Alberta Montney's volatile oil fairway.
The company is already the largest landowner in the adjacent Kaybob Duvernay shale play.
In its outlook for 2024, Crescent Point said it expects production to average between 198,000 and 206,000 boe/d and capital spending to total between
Shares in the company were up
This report by The Canadian Press was first published
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