RE:Woof woof moesoundandfury wrote: You need a shock collar and stop shi ttin on the lawn..........20,000 bpd production is currently fetching 500 million +.............so they basically trew 480+ million away..........480 million would likel pay reclamation costs of every well cpg ever drilled.......woof woof
Yup there you go again with BS and name calling.. what a joke you are..! 20,000 barrels you say... they only got $20 million you say..
The deal that closed in June 2021 is right here from their website, and assets like those were not fetching your pie in the sky values.. show me any transaction that is trading for 25,000/flowing brl..
Like I said if you're going to BS then expect to get called out on it.. mike drop..!!!
Quote from the company.. CALGARY, AB, June 7, 2021 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) and (NYSE: CPG) has completed the disposition of its remaining non-core southeast Saskatchewan conventional assets ("Assets"), which were previously identified as disposition candidates, for cash proceeds of $93 million ("Transaction"). As a result of the Transaction, Crescent Point also reduced asset retirement obligations ("ARO") by approximately $220 million, or nearly 25 percent of its ARO balance as at March 31, 2021. Proceeds from the disposition have been directed to the Company's balance sheet. Crescent Point considered the Assets to be non-core due to the significant associated ARO, operating expenses that were substantially higher than the corporate average and limited scalability. The Assets also generated minimal free cash flow, after incorporating development capital required to sustain production and reclamation activities, despite contributing annual net operating income of approximately $55 million based on current production of approximately 6,500 boe/d and US$60/bbl WTI.