Forecast - Production | Capital Markets | Capital Expenditure | Capex Decrease | Capital Expenditure - 2020 | 2020 Guidance
Crescent Point Cuts 2020 Spending by 35%; Will Drill Fewer Wells
Print
|
Crescent Point Energy Corp. is lowering its 2020 capital spending by approximately 35% in response to the recent decline in commodity prices.
Crescent Point's revised 2020 capital expenditures budget of $700 to $800 million is expected to generate annual average production of 130,000 to 134,000 boe/d. This guidance reflects a high-graded, lower activity budget with fewer wells drilled. This program is expected to moderate the Company's corporate decline rate and reduce variable expenses while also protecting the long-term value of its drilling inventory.
Minimal Q2 Activity; Majority to Take Place in Q3The revised program will begin immediately with minimal activity in second quarter, driven by normal seasonality related to spring break-up, with the majority of remaining activity…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
More Capex Decrease News
Diamondback Energy Second Quarter 2021 Results
Diamondback Energy, Inc. reported its Q2 2021 results. Q2 Highlights: Q2 2021 average production of 242.5 MBO/d (401.5 MBOE/d) Generated Q2 2021 cash flow from operating activities of…
Oasis Adjusts 2021 Plans After Permian Asset Sale; Capex Cut 10%
After announcing its impending exit from the Permian, Oasis Petroleum Inc. has updated its 2021 guidance and hedging portfolio. After the close of the sale, Oasis will be…
Advantage Oil & Gas Adjusts 2021 Outlook as Drilling Outperforms
Advantage Oil & Gas Ltd. has reported its updated 2021 plan as well as its Q4/full year 2020 results. 2021 Plan Results from Advantage's 2020 drilling program have…
WPX Energy Third Quarter 2020 Results; Merger with Devon on Track
WPX Energy reported its Q3 2020 results. WPX reported third-quarter oil volumes of 122,300 barrels per day, in line with second-quarter results as expected stemming from the effects…
Murphy Oil Second Quarter 2020 Results; Trims Another $40MM from Capex
Murphy Oil Corp. reported its Q2 2020 results. The company reported a net loss of $317 million, or $2.06 net loss per diluted share. Adjusted net loss, which…
Canada News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Western Canada Upstream M&A: Q1 2026 Transaction Report
Western Canadian M&A activity in Q1 2026 was characterized by a 87% decrease in total deal value compared to Q1 2025, totaling $0.8 billion C$. However, transaction volume…
Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill
Energy Secretary Chris Wright stood in front of the largest gathering of oil executives in the world this morning and delivered a message that was equal parts market…
This Operator Will Chop it's 2026 Rig Count From 34 to 24
ConocoPhillips is setting up 2026 as a lower-intensity, more efficient operating year — with the clearest proof coming from the Lower 48 activity reset following the Marathon integration.…
Rockies News
A Quiet Capital Pattern Is Forming in North American Upstream — and Almost No One Is Talking About It
A handful of recent transactions and capital raises point to a subtle pattern in North American upstream—one that is easy to miss because each event, on its own,…
Canadan E&P 2026 Program Calls for 448 Net Wells, Up 24% vs. 2025 Plan
Canadian Natural Resources outlined a 2026 operating capital budget of approximately $6.3 billion (total capital budget $6,425 million, including $125 million for carbon capture) targeting 1,590–1,650 MBOE/d of…
EIA’s “Glut” Calls: The 2025 Surplus Claim — and How 2021–2024 Forecasts Actually Held Up
The “~2.2 MMb/d glut in 2025” framing traces to the EIA’s Short-Term Energy Outlook (STEO), December 2025. EIA doesn’t usually write “glut” in the tables—what they publish is…
Permian E&P Bucking The Trend; Plan to Increasing Drilling & Fracs in 2026
Occidental’s 2025 U.S. onshore program is centered on the Permian, with ~$3.5B of Permian CapEx and ~$0.8B in the Rockies, totaling ~$4.3B. This supports ~15 net rigs in…
Whitecap Details 2026 Duvernay & Montney Program
Whitecap Resources reported strong third quarter 2025 operating and financial results, marking its first full quarter following the strategic combination with Veren that closed on May 12, 2025.…