CPG - Crescent Point to buy Kaybob Duvernay assets in C$375M deal; hikes dividend

• Crescent Point ( NYSE: CPG ) said Friday it agreed to acquire assets in the Kaybob Duvernay shale play in Alberta from Paramount Resources ( OTCPK:PRMRF ) for $375M.
• The assets include 130 net drilling locations across nearly 65K net acres which currently produce more than 4K boe/day (50% liquids) and include a gas plant, associated pipelines and other infrastructure.
• Crescent Point ( CPG ) said it is currently drilling its seventh pad in the play and expects to bring its sixth fully operated pad on-stream in early 2023.
• Citing strong operational results in 2022 and the additional excess cash flow it expects to generate, the company's board declared a 25% increase to the quarterly base dividend to $0.10/share.

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