Crescent Point Energy Reports Its Second Consecutive Strong Quarter
No-moat Crescent Point Energy reported another strong quarter, with cash flow consistent with the first quarter. The company reported second-quarter adjusted operating cash flow of CAD 504 million, which was flat compared with the first quarter, but above our expectations. An improvement in realized crude pricing drove The higher-than-expected cash flow. Crude pricing realizations averaged CAD 72 per barrel of oil equivalent, which was up 11% from the first quarter while West Texas Intermediate ...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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