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Crescent Point Focuses on Bakken Downspacing in Q2; XRL Uinta Laterals Boost Results
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Crescent Point has announced operational and financial Q2 2017 results. Highlights include:
In the second quarter, Crescent Point achieved average production of 175,615 boe/d which is an increase of about 5% from Q1. Q2 focused on low-risk,high-return infill development and down-spacing programs in the Williston Basin and southwest Saskatchewan resource plays.
The company completed a one-mile horizontal well in the Wasatch zone in the Uinta Basin that is currently flowing at approximately 2,000 boe/d, with an initial 30-day rate of approximately 1,700 boe/d.
Culling Non-Core AssetsCrescent Point is currently marketing or in negotiations to dispose of certain non-core assets with an aggregate value of approximately $180 million and expects to…
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