CPG - Crescent Point Energy EPS beats by $0.04

Crescent Point Energy (NYSE:CPG): Q3 Non-GAAP EPS of C$0.24 beats by $0.04; GAAP EPS of C$0.13 misses by $0.07. Generated over C$180 million of excess cash flow, or over $580 million year-to-date, further enhancing balance sheet strength. Successfully commenced Kaybob Duvernay drilling program, with completions expected in fourth quarter 2021. Excess cash flow generation of approximately C$925 million expected in 2022, after dividends, at US$75/bbl WTI. Net debt to adjusted funds flow expected to be at 1.0 times in early 2022, based on current forward strip commodity prices. Recently accelerated shareholder returns by increasing quarterly dividend to C$0.03 per share, as previously announced.

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Crescent Point Energy EPS beats by $0.04