Some ideas for the near future....Also following Friday’s annual meeting, Saxberg said he sees no major acquisitions on the radar for Crescent Point in the remainder of this year. “We did a pretty significant transaction already [this year]. “I don’t see any big, significant transactions [the rest of] this year.”
In a billion-dollar-plus deal in April, Crescent Point acquired CanEra Energy Corp., gaining production of roughly 10,000 boe per day in southeast Saskatchewan (DOB, April 23, 2014). While unlikely to see a deal of similar size in the rest of the year, the Canadian heavyweight could nonetheless see other deals, he said.
Saxberg cited “smaller opportunities available in the shorter term,” without offering specifics. Roughly 90 per cent of Crescent Point’s current production is Canadian, the balance, from the United States.
“Long-term, in the next year or so, we’re opportunistic,” he added. “Last year, we didn’t do any transactions. There wasn’t really a good, strong opportunity … that we felt was compelling enough. This year, there’s been more activity from that perspective.”