In efforts to portray a sustainable business model with the view that oil prices could potentially remain “lower for longer” Crescent Point has decided to cut its dividend by 57% to $0.10 per month (previously $0.23 per month) while also suspending its DRIP program. In addition, due to observed cost savings, 2015e capex has been lowered by $100 mm with no change to its prior production guidance of 163,500 boe/d.
