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Crescent Point Energy Q1 Adjusted Earnings Rise

05/12/2021 03:42

07:40 AM EDT, 05/12/2021 (MT Newswires) -- Crescent Point Energy (CPG) reported Wednesday Q1 earnings of C$0.18 ($0.15) per share, compared with C$0.09 per share a year ago.

Analysts polled by Capital IQ expected C$0.11 per share.

The company said it is currently on track to meet or exceed its current annual average production guidance of 132,000 to 136,000 barrels of oil equivalent per day, with capital expenditures expected to be within the earlier guidance range of C$575 to C$625 million in 2021.

Crescent Point said it expects to generate excess cash flow of around C$525 to C$650 million in 2021 at WTI oil priced at $55 to $65 per barrel for the remainder of the year.

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