Crescent Point Energy (TSE:CPG) has released an update.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Crescent Point Energy Corp. has announced the sale of non-core Saskatchewan assets to Saturn Oil & Gas Inc. for $600 million, projecting a sharper focus on operational execution and capital returns. The deal is set to reduce Crescent Point’s 2024 production guidance slightly while maintaining its capital expenditure forecast, with proceeds aimed at slashing its net debt significantly by year-end. This strategic disposition underscores Crescent Point’s commitment to optimizing its balance sheet and enhancing shareholder value.
For further insights into TSE:CPG stock, check out TipRanks’ Stock Analysis page.