RE: $427 Million asset Sale to CPG
It leaves us with an adjusted exit rate of over 47,000, by my count.
That's less 3,900 boe/d Bakken sold for $427m and 580 boe/d SE Sask. sold for $104m ...
Incidentally, CPG's spin on it is an interesting read.
https://www.crescentpointenergy.com/documents/news/CPG-2012-02-16.pdf
It seems they wanted PBN out of their so called Waterflood Assets ares.
CPG reserve estimates assume 19% base recovery, PBN reserve engineers use a lot less.
it all depends on how one spins it .
That's one of the reasons for PBN discounted shares value. IMO
Another is every year without fail, the brokers and banks make a pile selling PBG treasury shares … they have to push this stock.