RE:Share purchase?Anschutz: Like most corporations, many employees are partially compensated with shares (either market purchase or from treasury). While CPG has been repurchasing shares for cancellation they are also using part of this balance for share compensation. The following is taken from page 18 of CPG's Q1 financial report ( found at
https://www.crescentpointenergy.com/sites/default/files/2019-q1-mdafs.pdf ) :
Shareholders' Equity At March 31, 2019: Crescent Point had 549.4 million common shares issued and outstanding compared to 550.2 million common shares at December 31, 2018. The decrease of 0.8 million shares is due to shares purchased and cancelled under the NCIB, partially offset by shares issued pursuant to the Restricted Share Bonus Plan. As of the date of this report, the Company had 547,197,483 common shares outstanding.
Normal Course Issuer Bid On January 23, 2019: the Company announced the approval by the Toronto Stock Exchange of its notice to implement a NCIB. The NCIB allows the Company to purchase, for cancellation, up to 38,424,678 common shares, or seven percent of the Company's public float, as at January 14, 2019. The NCIB commenced on January 25, 2019 and is due to expire on January 24, 2020. During the three months ended March 31, 2019, the Company has purchased and cancelled 3,226,300 common shares for total consideration of $13.3 million. The total cost paid, including commissions and fees, was recognized directly as a reduction in shareholders' equity. Under the NCIB, all common shares purchased are cancelled. As of the date of this report, the Company has purchased, for cancellation, 5,606,700 common shares for total consideration of $25.1 million.
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