Asset sales
Earlier poster asked about asset sales.
This is what Alta Corp Capital was able to gleen ffrom the company around a week ago.
"On Dispositions…Assets outside of Five Core Areas could be Available.
The heavily focused message to ‘stick to its five core assets’ left investors wondering what
else could be for sale. Generally, Crescent Point defines the following assets as outside of its
main focus:
Currently have ongoing marketed processes for,
Swan Hills (7-8 mboe/d)
Viking (8 mboe/d)
Other assets include:
Turner Valley (5-6 mboe/d)
North Dakota (12 mboe/d)
SE SK Conventional (~20 mboe/d) - recently disposed part of conventional assets
to TOG for $225 mm.
Overall ‘non-core’ production totals ~55 mboe/d. Crescent Point has not set any official
targets for dispositions given, but total asset sales likely to result somewhere in between
already marketed Viking/Swan Hills (~15-16 mboe/d) and total non-core (55 mboe/d).
Proceeds will be used to repay debt initially.
Would prefer to be ~1.5x D/CF (mid-cycle goal of 1.0x)
Example of $10 raised through dispositions, $9 used repay debt, $1 used to further
Uinta and Duvernay plays and potentially some waterflood capital.