Monthly dividend reduced 70% (from $0.10 to $0.03 per share) to prudently manage cash use to cash flow ratios below 100% in 2016e and 2017e on both the strip and FirstEnergy price deck. Capital expenditures in 2016e now formally at the low end of former guidance ($950 mm) with $100 mm of 1H16e capital being deferred in 2H16e. The 2016e production target remains at 165,000 boe/d. Corporate production currently at 177,000 boe/d. Fourth quarter cash flow was 4% ahead of expectations while productio ....
10 Mar 2016
Announces Solid year-end 2015 Results, Reserves and dividend Cut
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Announces Solid year-end 2015 Results, Reserves and dividend Cut
Crescent Point Energy Corp. (0UR7:LON) | 0 0 (-1.0%) | Mkt Cap: 4,825m
- Published:
10 Mar 2016 -
Author:
Cody R. Kwong -
Pages:
9
Monthly dividend reduced 70% (from $0.10 to $0.03 per share) to prudently manage cash use to cash flow ratios below 100% in 2016e and 2017e on both the strip and FirstEnergy price deck. Capital expenditures in 2016e now formally at the low end of former guidance ($950 mm) with $100 mm of 1H16e capital being deferred in 2H16e. The 2016e production target remains at 165,000 boe/d. Corporate production currently at 177,000 boe/d. Fourth quarter cash flow was 4% ahead of expectations while productio ....