CPG - Crescent Point Energy Chalks Out FY24 & Five-Year Plan Sees Significant Debt Reduction & More | Benzinga
Crescent Point Energy Corp (NYSE: CPG) released a preliminary FY24 outlook and disclosed updated 5-year guidance.
FY24 guidance: The company expects annual production of 145,000 to 151,000 boe/d, with projected development capital expenditures of C$1.05 billion to C$1.15 billion.
CPG plans to allocate around 70% of the budget to its Kaybob Duvernay and Alberta Montney plays, with production from these Alberta assets to grow by roughly 10% by the end of the year.
CPG sees significant excess cash flow of over C$1.0 billion at $80/bbl WTI and projects net debt ...