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Crescent Point Lowers 2015 Budget 28%
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Crescent Point Energy Corp. has announced a $1.45 billion capital expenditures budget for 2015.
The capital expenditures budget is expected to generate average daily production of 152,500 boe/d, a nine percent increase over 2014 guidance. With benchmark oil price volatility currently at elevated levels, Crescent Point's 2015 budget assumptions are conservative and disciplined.
Scott Saxberg, president and CEO of Crescent Point said: "In this commodity price environment, our 2015 budget plans are disciplined. We've reduced our capital expenditures from 2014 guidance by 28 percent and we have increased our 2015 oil hedges to greater than 50 percent at prices averaging above CDN$90 per barrel.
We're forecasting nine percent production growth over 2014 and we are starting the year strong, as…
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