$1 billion moreI predict CPG will have $1 billion more free cash flow in 2018 due to increased oil prices.
From a loss to a "cash macine" in 2018. Does anyone think in 2018 you will be able to buy CPG at todays prices?
Globe says Crescent Point vows not to let costs soar
2017-11-20 04:49 ET - In the News
The Globe and Mail report in its Saturday, Nov. 18, edition that by July, 2014, Crescent Point Energy's stock price topped $47. The Globe's Shawn McCarthy and Jeff Lewis write that then oil collapsed. Crescent Point's earnings turned to big losses, and investors have punched its shares down by 80 per cent to under $10. Today, Crescent Point is a humbled company in a battered industry. However, with global oil prices on the mend, Canadian oil producers are getting another chance to get it right. After years of slashing costs, executives are promising to not make the same mistakes of the past when they spent recklessly on low-return projects and let costs soar. As Crescent Point looks toward its 2018 budget, chief executive officer Scott Saxberg insists the company will not outspend cash flow, as companies routinely did in years past. On the contrary, it has revisited nearly all aspects of its business in a bid to find cost savings wherever possible. Such moves by Crescent Point and other producers are giving the industry better leverage to even small moves in oil prices. For the first time in years, the global oil market is showing signs of lasting fundamental improvements.