Neil Smith, chief operating officer of Crescent Point Energy (NYSE: CPG), presented today at EnerCom’s The Oil & Gas Conference® 20.
Crescent Point Energy is one of Canada’s largest light and medium oil producers, with an annual dividend of CDN$2.76 per share. Crescent Point’s acquisition efforts include its core areas in southern Saskatchewan and central and southern Alberta. The company is also pursuing operations in emerging plays, such as the Beaverhill Lake light oil resource play in Alberta and Bakken/Three Forks in the United States.
Crescent Point reported average production of 151,636 BOEPD for the second quarter of 2015, which was weighted 91% light-to-medium crude oil and liquids. The company generated funds flow from operations of $524.3 million, or $1.14 per share.
During the company’s breakout session, management was asked the following questions:
- Can you describe the differences between Canadian and U.S. markets?
- How does the strength of the Canadian dollar affect you if you are being paid in U.S. dollars?
- Can you tell us about your thoughts on the Uinta for next year?
- Would you make an acquisition in the Uinta?
- Can you tell us more about why you are so strongly behind water flooding?
- What does your discretionary spending look like right now?
- How did you find the best spacing for your producing wells and your water-flood wells?
- Are you using your own rigs?
- What is the size of your mid-stream assets?
- Do you think there’s room to lower F&D costs?
- Is it harder to bring down costs on the Canadian side than in the U.S.?
- What’s the priority when you’re looking at making acquisitions, paying down debt, increasing CAPEX, etc.?
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