Crescent Point Energy Corp. operates as an oil and gas exploration, development, and production company. The company is a conventional oil and gas producer with assets focused in properties consisted of long life, operated, light and medium oil and natural gas reserves in Western Canada and the United States. The crude oil and natural gas properties and related assets generating income for the benefit of the company are located in the provinces of Saskatchewan, Alberta, British Columbia and Manitoba and the states of North Dakota, Montana and Utah. Major Oil and Gas Properties Canada Viewfield Bakken Resource Play: The Viewfield Bakken light oil resource play area is located in southeast Saskatchewan. As of December 31, 2013, the company had converted a total of 66 producing wells to water injection wells in 29 waterflood sections in the Viewfield Bakken oil resource play. In 2013, total proved plus probable reserves in the Viewfield Bakken resource play, excluding Flat Lake, were 221.4 MMboe. Shaunavon Resource Play: In 2013, the company continued to develop the medium gravity Upper and Lower Shaunavon oil resource plays through development and infill drilling, using improved technologies and waterflood activities to improve recoveries. Battrum and Cantuar Regional Area: The Battrum and Cantuar regions represent the continued success and growth of the company’s mature assets producing out of the Roseray and Success Sands. United States Utah Uinta Basin Resource Play: The company, through the acquisition of Ute, became active in the Uinta Basin in northeast Utah, a multi-zone, large oil-in-place light oil resource play. North Dakota: The Bakken light oil resource play in North Dakota is a growth area for production anywhere in North America. Significant Events In May 2014, Crescent Point Energy Corp. reports that the previously announced acquisition of CanEra Energy Corp. closed May 15. In September 2014, Crescent Point Energy has agreed to acquire conventional oil assets and land in southeast Saskatchewan and Manitoba from Lightstream Resources Ltd. for $378 million. In September 2014, Crescent Point Energy Corp. announced that the previously announced agreement to acquire certain assets from Lightstream Resources Ltd. has closed. As a result, Crescent Point has acquired high-netback, low decline, conventional oil production of approximately 3,300 boe per day and 76 net sections of land contiguous with its existing land base in southeast Saskatchewan and Manitoba. The company also acquired an additional 44 net sections of undeveloped fee title land, much of in an exciting new fairway that the company believes holds significant exploratory potential.
crescent point energy corp
(CPG:Toronto Stock Exchange)
585–8th Avenue S.W.
Calgary, AB T2P 1G1
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