Crescent Point Energy
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|Traded as||TSX: CPG
S&P/TSX 60 component
|Industry||Oil and gas industry|
|Founded||2001 as Crescent Point Energy Ltd.|
|Headquarters||Calgary, Alberta, Canada|
|Key people||Scott Saxberg, President and CEO
Peter Bannister, Chairman of the Board
|Revenue||Cdn$1.5 billion (2010)|
Crescent Point Energy is an oil and gas company based in Calgary, Alberta, Canada. The company focuses primarily on crude oil production in southern Saskatchewan. As of year-end 2012, Crescent Point employed 303 people.
Crescent Point's 2011 capital expenditures budget has been set at C$800 million. Execution of the budget is expected to increase average daily production to more than 112,000 barrels per day (17,800 m3/d) of oil equivalent, weighted approximately 90% to oil.
Beginning in 2013, Crescent Point Energy will be the sponsor of the Crescent Point Energy Western Canada Cup.
Assets and holdings
Crescent Point has more than 10 billion barrels (1.6×109 m3)of original oil in place and a reserve life index of 14.3 years on a proved plus probable basis. The company's two major resource plays are the Bakken formation in southeast Saskatchewan, and Shaunavon in southwest Saskatchewan.
Crescent Point has other key properties in Saskatchewan, including Manor, Tatagwa, Dodsland/Plato and Battrum/Cantuar.
Emerging plays include southern Alberta, where Crescent Point has amassed more than one million net acres of land, and Flat Lake, an area in southern Saskatchewan, North Dakota and Utah.
In May 2012, Crescent Point acquired Canadian oil company Cutpick Energy for C$425 million.
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