Crescent Point Begins 2024 with Strong Results

Crescent Point Energy (TSE:CPG) has released an update.

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.

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