Crescent Point's Second-Quarter Results Ahead of Our Expectations
Crescent Point Energy reported second-quarter production volumes of 175.6 thousand barrels of oil equivalent per day, or mboe/d, which was a 5% increase year over year. Volumes were ahead of our forecasts of 170 mboe/d and the company’s guidance. Increased production was driven by sooner-than-expected results from the company’s drilling program. After a strong second quarter, the company increased its 2017 production guidance to 174.5 mboe/d from its previous guidance of 172 mboe. The company ma...Crescent Point Energy is an oil and gas exploration, development and production company with assets focused in properties consist of crude oil and natural gas reserves. Co. is engaged in acquiring, developing and holding interests in petroleum and natural gas properties and assets related thereto through a general partnership and wholly owned subsidiaries. As of Dec 31 2016, net proved reserves for light and medium crude oil were 141,850 million barrels, heavy crude oil were 19,993 million barrels, tight oil were 269,461 million barrels, natural gas liquids were 50,767 million cubic feet, shale gas were 221,238 million cubic feet and conventional natural gas were 115,041 million cubic feet.
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