Crescent Point Energy Corp.

Title: Crescent Point Energy Corp.
Category: Energy
Clicks: 3
Added on: Nov 26, 2011
Crescent Point Energy Trust is a gas and oil production company focusing on the production of crude oil in southern Saskatchewan. Based in Calgary, the company was founded as Crescent Point Energy Ltd in 2001. Crescent Point Energy Corp. was established with the restructuring of two junior gas and oil companies, Tappit Resources Ltd and Crescent Point Energy Ltd, in 2003. The company completed key consolidation acquisitions and acquisitions in 2004, including acquisitions in the southeast part of Saskatchewan. In 2005, the company consolidated its assets in the John Lake area and in Saskatchewan, completing five acquisitions worth about $100 million.

The company’s core operating areas include the Cantuar property, the Battrum property, the John Lake property, and the Lower Shaunavon play. Cantuar is a property in which the company has a 55 percent interest. Crescent Point continues optimizing the reserves and production activities in this area through re-completions, infill drilling, and water flood optimization. One of the major operating areas of the company is the Lower Shaunavon oil pool, which is among the largest oil plays in Canada. In addition, Crescent Point has a 45 percent interest in the Battrum property, which is an oil pool acquired in 2006. In 2009, the company acquired TriAxon Resources Ltd and Wave Energy Ltd., thus gaining a land position in an oil pool found in the Dodsland areas and the Plato in western Saskatchewan. The Viking play is a light oil play and tight rock formation, benefiting from advanced fracture stimulation techniques. Other operating areas are the Manor property and Sounding Lake, which contains natural gas and medium gravity oil. This is the original core property of the company and Crescent Energy has a 90 percent interest in it.

The company employs low-risk large drilling inventory as to maintain its reserves production, and dividends. The reserve life index of the company is 14.3 years. It is listed on TSX under the symbol CPG, and its main competitors are AB Peyto Exploration & Development Corp., Encana Corporation, based in Calgary, and Canadian Natural Resources Limited, among others.
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