PERHAPS CPG's PATH is ONE PAUL WILL FOLLOW
8:10 EST - As some have been doing away with hedges, Crescent Point (CPG) has been building its positions, in the process protecting it some from the ongoing price tumble. As the Calgary-based firm notes its planned 2015 capital spending at $1.45B is 28% below its guidance for 2014, it also notes it's increased 2015 oil hedges to more than 50% of planned output, with the average hedge above C$90/barrel. That as Nymex futures currently sit below US$50. Meanwhile, nearly 90% of CPG's planned capex this year is for drilling efforts in the US and Canada, including the Viewfield Bakken play. Shares, inactive premarket, have slumped 35% the past 6 weeks to hit nearly 6-year lows. (kevin.kingsbury@wsj.com; @kevinkingsbury)