CALGARY — Crescent Point Energy Corp. says it has signed an agreement with Paramount Resources Ltd. to acquire additional Kaybob Duvernay assets for $375 million.
The Calgary oil and gas company says those assets include 130 net drilling locations across almost 65,000 net acres of Crown land.
They produce more than 4,000 barrels of oil equivalent a day and include a gas plant, pipelines, water infrastructure and seismic data.
Crescent Point says they are located adjacent to one of its land bases and will generate high-return drilling inventory and development opportunities.
Crescent Point intends to fund the acquisition through existing credit facilities and says the deal is expected to close in January.
It simultaneously announced a 25 per cent increase to its quarterly base dividend, bringing the figure to 10 cents per share.
This report by The Canadian Press was first published Dec. 9, 2022.
Companies in this story: (TSX:CPG)
The Canadian Press
- 0051 JML Hiring Pumpjack assembly0051 JML Hiring Pumpjack assembly
- 0049 Scotsburn Dental soft guitar0049 Scotsburn Dental soft guitar
- 0050 Pride Upkeep lawn0050 Pride Upkeep lawn
- 0048 Hutts Trucking Safety0048 Hutts Trucking Safety
- 0047 Estevan Oilfield Technical Society 20230047 Estevan Oilfield Technical Society 2023
- 0046 City of Estevan This is Estevan0046 City of Estevan This is Estevan
- 0044 PTRC CCUS Aquistore0044 PTRC CCUS Aquistore
- 0043 ALX ten sizes0043 ALX ten sizes
- 0039 Summit ESP Saskatchewan lower third0039 Summit ESP Saskatchewan lower third
- 0041 DEEP Since 2018 now we are going to build0041 DEEP Since 2018 now we are going to build
- 0040 Southeast College safety tickets0040 Southeast College safety tickets
- 0032 IWS Summer hiring rock trailer music
- 0029 Latus Viro updated Latus phone
- 0025 Kendalls
- 0023 LC Trucking tractor picker hiring mix
- 0022 Grimes winter hiring
- 0021 OSY Rentals S8 Promo
- 0019 Jerry Mainil Ltd hiring dugout
- 0018 IWS Hiring Royal Summer
- 0013 Panther Drilling PO ad 03 top drive rigs
- 0011
- 0006 JK Junior
- 0004 Royal Helium PO Ad 02
- 9001
- 0002