Crescent Point Announces Q2 2022 Results
CALGARY, AB, July 27, 2022 /CNW/ – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the quarter ended June 30, 2022.
KEY HIGHLIGHTS
- Generated approximately $380 million of excess cash flow in second quarter, allowing for increased returns to shareholders.
- Enhanced return of capital offering with an increased base dividend and an updated framework, as previously announced.
- Achieved strong IP30 rate of 900 boe/d per well, comprised primarily of liquids, on second fully operated pad in Kaybob Duvernay.
- Established new targets to reduce scope 1 and 2 emissions and freshwater use, as previously announced.
“Our second quarter results highlight our excess cash flow generation, continued operational execution and commitment to returning capital”, said Craig Bryksa, President and CEO of Crescent Point. “Upon attaining our near-term debt target, we announced our updated framework, which now targets to return the majority of our excess cash flow to shareholders. We remain focused on creating long-term value through a combination of returning capital while also enhancing the balance sheet strength and sustainability of the business.”
https://www.newswire.ca/news-releases/crescent-point-announces-q2-2022-results-854888506.html
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