Crescent Point Energy (TSE:CPG) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Crescent Point Energy reported a productive start to 2024, with a first-quarter production of 198,500 boe/d and $130 million in excess cash flow, of which $80 million was returned to shareholders. The company also highlighted the successful integration of Alberta Montney assets and a strategic disposal of non-core Saskatchewan assets for $600 million, aimed at strengthening its balance sheet. Despite a net loss of $411.7 million for the quarter due to a non-cash impairment charge, Crescent Point’s adjusted net earnings from operations stood at $187.0 million.
For further insights into TSE:CPG stock, check out TipRanks’ Stock Analysis page.
