Crescent Point Energy Chalks Out FY24 & Five-Year Plan, Sees Significant Debt Reduction & More
Portfolio Pulse from Lekha Gupta
Crescent Point Energy Corp (NYSE:CPG) has released a preliminary FY24 outlook and updated 5-year guidance. The company expects annual production of 145,000 to 151,000 boe/d in FY24, with projected development capital expenditures of C$1.05 billion to C$1.15 billion. CPG plans to allocate around 70% of the budget to its Kaybob Duvernay and Alberta Montney plays. The company also sees significant excess cash flow of over C$1.0 billion at $80/bbl WTI and projects net debt of C$1.7 billion. The company expects to return around 60% of excess cash flow to shareholders via dividends and share repurchases.
September 11, 2023 | 12:17 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Crescent Point Energy Corp's FY24 outlook and 5-year guidance indicate a positive financial outlook with significant excess cash flow and net debt reduction. This could potentially attract investors and positively impact the company's stock.
The company's FY24 outlook and 5-year guidance indicate a strong financial position with significant excess cash flow and net debt reduction. This could potentially attract investors and positively impact the company's stock. The company's plan to return around 60% of excess cash flow to shareholders via dividends and share repurchases could also be a positive factor for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100