Crescent Point Acquires Kaybob Duvernay Assets and Increases Base Dividend by 25%
CALGARY, AB, Dec. 9, 2022 /PRNewswire/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG) (NYSE:CPG) is pleased to announce it has entered into an agreement to acquire additional Kaybob Duvernay assets and is increasing its base dividend.
KEY HIGHLIGHTS
Kaybob Duvernay acquisition adds 130 net locations and increases drilling inventory in the play to over 20 years.Increasing first quarter 2023 base dividend by 25 percent to $0.10 per share, or $0.40 per share annually.Excess cash flow of $1.25 billion expected in 2023, at US$80 WTI, based on annual production of 138,000 to 142,000 boe/d.Significant return of capital to shareholders including 50 percent of discretion
