Crescent Point Announces Corporate Update
Crescent Point Energy Corporation Ordinary Shares (Canada) (CPG)
Last crescent point energy corporation ordinary shares (canada) earnings: 3/5 06:30 am
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US:NYSE Investor Relations:
crescentpointenergy.com/invest
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Source: PR Newswire
CALGARY, April 20, 2020 /PRNewswire/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is taking additional action to further enhance the Company's long-term sustainability through additional cost reductions, and is including a revised 2020 outlook. KEY HIGHLIGHTSLowering 2020 capital expenditures guidance by $75 million, or 10 percent, with no associated impact to production. Maintaining flexibility to further reduce capital expenditures, if necessary.Enhancing sustainability by reducing 2020 operating expenses by $140 million. Reduced salaries for executive team and Board of Directors.Lowering annual production guidance by 15 percent, primarily due to the voluntary shut-in of higher cost production. Retains significant liquidity of over $2.5 billion, with no material near-term debt maturities. "We have taken, and continue to take, meaningful action to enhance our long-term sustainability during this period of low commodity prices," said Craig Bryk
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