Crescent Point Energy Expects Annual Production Of 145,000-151,000 Boe/Day In 2024 Based On Development Capital Expenditures Of $1.05B-$1.15B
Portfolio Pulse from Benzinga Newsdesk
Crescent Point Energy has projected its annual production to be between 145,000-151,000 Boe/Day in 2024, based on development capital expenditures of $1.05B-$1.15B. About 70% of the company's 2024 budget is expected to be allocated to its Kaybob Duvernay and Alberta Montney plays, which provide top quartile returns, scalability, and quick well payouts.
September 11, 2023 | 10:46 am
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Crescent Point Energy's projected increase in production and strategic allocation of budget to high-return plays could potentially boost investor confidence and positively impact the company's stock price in the short term.
The company's projected increase in production indicates a positive growth trajectory. Additionally, the strategic allocation of a significant portion of the budget to high-return plays suggests efficient capital management, which could boost investor confidence and positively impact the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100