RE:New Press Release - Crescent Point Transforms Portfolio with Strategic Alberta Montney ConsolidationWOW!!!! see below ....dwdc
"The Transaction will create the seventh-largest E&P in Canada with production weighted 65% to oil and liquids. Pro-forma Crescent Point production is expected to total over 200,000 boe/d in 2024, with significant drilling inventory in place to deliver additional long-term organic growth. Crescent Point will immediately become the largest owner of land in the volatile oil fairway in the Alberta Montney" "Adds approximately 800 net Montney drilling locations and increases estimated total corporate premium inventory to over 20 years"
"Plan to increase base dividend by 15 percent to $0.46 per share on an annual basis, subject to closing of the Transaction"
SOME SHORT TERM PAIN.......bought deal
"bought deal basis 48,550,000 Crescent Point common shares (“Common Shares”) at $10.30 per Common Share for aggregate gross proceeds of approximately CDN$500 million"