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BRIEF-Crescent Point Announces Sale Of Uinta Basin And Non-Core Saskatchewan Assets For Cash Proceeds Of $912 Mln

Published 2019-09-03, 07:52 a/m
© Reuters.  BRIEF-Crescent Point Announces Sale Of Uinta Basin And Non-Core Saskatchewan Assets For Cash Proceeds Of $912 Mln
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Sept 3 (Reuters) - Crescent Point Energy Corp CPG.TO :

* CRESCENT POINT ANNOUNCES SALE OF UINTA BASIN AND NON-CORE SASKATCHEWAN ASSETS FOR CASH PROCEEDS OF $912 MILLION

* CRESCENT POINT ENERGY CORP - AGREEMENTS TO SELL 27,000 BOE/D OF UPSTREAM ASSETS FOR APPROXIMATELY 4.7 TIMES CASH FLOW

* CRESCENT POINT ENERGY CORP - NET DEBT EXPECTED TO IMPROVE TO APPROXIMATELY $2.75 BILLION AT YEAR-END 2019

* CRESCENT POINT ENERGY CORP - DEAL ACCRETIVE TO DEBT-ADJUSTED FUNDS FLOW PER SHARE BY APPROXIMATELY 11 PERCENT

* CRESCENT POINT ENERGY CORP - AGREEMENTS TO SELL ITS UINTA BASIN ASSET FOR TOTAL CASH CONSIDERATION OF APPROXIMATELY $912 MILLION

* CRESCENT POINT ENERGY CORP - DEAL INCREASES CRESCENT POINT'S ABILITY TO CONTINUE EXECUTING ITS SHARE REPURCHASE PROGRAM

* CRESCENT POINT ENERGY - CRESCENT POINT'S UINTA BASIN ASSET INCLUDES ABOUT 350 NET SECTIONS OF UNDEVELOPED LAND, 123.1 MILLION BOE OF PROVED PLUS PROBABLE

* CRESCENT POINT ENERGY CORP - 2019 CAPITAL EXPENDITURES GUIDANCE OF $1.2 TO $1.3 BILLION REMAINS UNCHANGED

* CRESCENT POINT ENERGY CORP - CONTINUES TO PURSUE ADDITIONAL ASSET SALES, INCLUDING BALANCE OF ITS SOUTHEAST SASKATCHEWAN CONVENTIONAL ASSETS

* CRESCENT POINT ENERGY CORP - TOTAL NET DEBT IS EXPECTED TO BE REDUCED TO APPROXIMATELY $2.75 BILLION AT YEAR-END 2019

* CRESCENT POINT ENERGY CORP - CURRENTLY BUDGETS APPROXIMATELY $125 MILLION FOR ACCRETIVE SHARE REPURCHASES DURING YEAR

* CRESCENT POINT ENERGY - REVISED FY GUIDANCE INCORPORATES ANNOUNCED ASSET DISPOSITIONS & INCLUDES ANNUAL AVERAGE PRODUCTION OF 160,000 TO 164,000 BOE/D

* CRESCENT POINT ENERGY CORP - NOW TARGETING APPROXIMATELY 175 TO 200 INJECTION WELL CONVERSIONS IN 2019

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