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Crescent Point Finalizes $900MM Deal for Shell's Duvernay Assets

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   |    Thursday,April 01,2021

Crescent Point Energy Corp. has finalized its $900MM acquisition of Shell Canada Energy's Kaybob Duvernay assets in Alberta.

Based on 30,000 boe/d of production, the purchase price reflects an attractive Acquisition metric equating to less than 3.0 times net operating income of approximately $330 million at US$50/bbl WTI, or approximately 2.3 times net operating income of approximately $400 million at current commodity prices of US$60/bbl WTI. These Assets are also expected to enhance Crescent Point's free cash flow generation as approximately $180 million of annual capital expenditures are required to sustain 30,000 boe/d of production.

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