カルガリー、AB, 2021 年 6 月 7 日 /PRNewswire/ – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) and (NYSE: CPG) has completed the disposition of its remaining non-core southeast サスカチュワン州 conventional assets (“Assets”), which were previously identified as disposition candidates, for cash proceeds of 93万ドル (“Transaction”). As a result of the Transaction, Crescent Point also reduced asset retirement obligations (“ARO”) by approximately 220万ドル, or nearly 25 percent of its ARO balance as at 2021 年 3 月 31 日. Proceeds from the disposition have been directed to the Company’s balance sheet.
Crescent Point considered the Assets to be non-core due to the significant associated ARO, operating expenses that were substantially higher than the corporate average and limited scalability. The Assets also generated minimal free cash flow, after incorporating development capital required to sustain production and reclamation activities, despite contributing annual net operating income of approximately 55万ドル based on current production of approximately 6,500 boe/d and US $ 60/ bblWTI。
Crescent Point’s 2021 budgeted development capital expenditures range remains unchanged, as minimal development capital was allocated to these Assets for the remainder of the year. Reclamation activities that were previously budgeted for these Assets for the balance of 2021 will be redirected to reclaiming other properties as part of the Company’s commitment to strong environmental, social and governance (“ESG”) practices.
Crescent Point’s acquisition and disposition strategy remains centered on its strategic priorities of enhancing the Company’s balance sheet strength and sustainability. Crescent Point’s revised 2021 guidance, which incorporates the Transaction, is expected to generate significant excess cash flowŦ およその $500 〜へ 625万ドル at US $ 55/ bblから US $ 65/ bblWTI。
TD Securities Inc. acted as financial advisor to Crescent Point with respect to the Transaction. Peters & Co. Limited represented the Company as its strategic advisor.
2021ガイダンス
The Company’s revised guidance for 2021 is as follows:
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事前の |
改訂されました |
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Total Annual Average Production (boe/d) (1) |
132,000 – 136,000 |
128,000 – 132,000 |
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資本支出 |
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Development capital expenditures ($ million)
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$ 575 - $ 625
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$ 575 - $ 625
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Capitalized G&A ($ million)
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$35
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$35
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Total ($ million) (2) |
$ 610 - $ 660 |
$ 610 - $ 660 |
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Other Information for 2021 Guidance |
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Reclamation activities ($ million) (3)
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$15
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$15
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Capital lease payments ($ million)
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$20
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$20
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Annual operating expenses
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625ドルから645万ドル ($12.75 – $13.25/boe)
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595ドルから615万ドル ($12.45 – $12.95/boe)
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ロイヤリティー |
11.5の％ - 12.5％ |
11.5の％ - 12.5％ |
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1) |
The revised total annual average production (boe/d) is comprised of ~86% Oil & NGLs and 14% Natural Gas |
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2) |
Land expenditures and net property acquisitions and dispositions are not included. Revised development capital expenditures is allocated as follows: 86% drilling & development and 14% facilities & seismic |
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3) |
Reflects Crescent Point’s portion of its expected total budget |
非GAAP財務指標
Throughout this press release, the Company uses the terms “excess cash flow” and “free cash flow”. These terms do not have any standardized meaning as prescribed by IFRS and, therefore, may not be comparable with the calculation of similar measures presented by other issuers.
Excess cash flow is calculated as free cash flow less dividends. Free cash flow is calculated as adjusted funds flow from operations less capital expenditures, payments on lease liability, asset retirement obligations and other cash items (excluding net acquisitions and dispositions). Management utilizes free cash flow and excess cash flow as key measures to assess the ability of the Company to finance dividends, potential share repurchases, debt repayments and returns-based growth.
Adjusted funds flow from operations is calculated based on cash flow from operating activities before changes in non-cash working capital, transaction costs and decommissioning expenditures funded by the Company. Transaction costs are excluded as they vary based on the Company’s acquisition and disposition activity and to ensure that this metric is more comparable between periods. Decommissioning expenditures are discretionary and are excluded as they may vary based on the stage of Company’s assets and operating areas. Management utilizes adjusted funds flow from operations as a key measure to assess the ability of the Company to finance dividends, operating activities, capital expenditures and debt repayments.
経営陣は、上記の非GAAP指標の提示は、投資家と株主に有用な情報を提供すると考えています。これらの指標は、透明性を高め、比較可能な基準で過去の期間に対するパフォーマンスをより適切に分析する能力を提供するからです。
Forward-Looking Statements and Other Matters
このプレスリリースに含まれる特定の記述は、27年証券法のセクション1933Aおよび21年証券取引法のセクション1934Eの意味における「将来の見通しに関する記述」、およびカナダの証券規制の目的における「将来の見通しに関する情報」を構成します。 （総称して、「将来の見通しに関する記述」）。 当社は、「可能性がある」、「すべきである」、「できる」、「期待する」、「期待する」、「信じる」、「意志」、「かもしれない」、「可能性がある」などの言葉を使用して、このような将来の見通しに関する記述を特定しようとしました。 「意図する」、「予測する」、「維持する」、「継続する」、「戦略」、「可能性」、「プロジェクト」、「成長する」、「活用する」、「推定する」、「適切な位置にある」などの表現、しかし、これらの言葉は、そのようなステートメントを識別するための排他的な手段ではありません。
In particular, this press release contains forward-looking statements pertaining, among other things, to: the direction of proceeds from the disposition of the Assets; the benefits of disposing of the Assets, including to the Company’s ARO; characteristics of the Assets; the annual net operating income generated by, and production from, the Assets; development capital required to sustain production with the Assets; non-development capital and development capital allocations and directions; ESG commitments; acquisition and disposition strategy priorities; Crescent Point’s revised 2021 guidance, which incorporates the Transaction, generating significant excess cash flow of approximately $500 〜へ 625万ドル at US $ 55/ bblから US $ 65/bbl WTI; the Company’s 2021 guidance, including: total annual average production, capital expenditures (including development capital expenditures and capitalized G&A), reclamation activities, capital lease payments, annual operating expenses, and royalties); and the allocations of development capital expenditures to drilling & development and facilities & seismic.
All forward-looking statements are based on Crescent Point’s beliefs and assumptions based on information available at the time the assumption was made. The Company believes that the expectations reflected in these forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this report should not be unduly relied upon. By their nature, such forward-looking statements are subject to a number of risks, uncertainties and assumptions, which could cause actual results or other expectations to differ materially from those anticipated, expressed or implied by such statements, including those material risks discussed in the Company’s Annual Information Form for the year ended 2020 年 12 月 31 日 under “Risk Factors” and our Management’s Discussion and Analysis for the year ended 2020 年 12 月 31 日, and for the quarter ended 2021 年 3 月 31 日, under the headings “Risk Factors” and “Forward-Looking Information”.
クレセントポイントの事業または財務結果に影響を与える可能性のあるこれらおよびその他の要因に関する追加情報は、カナダおよび米国の証券規制当局に提出されたクレセントポイントのレポートに含まれています。 読者は、本書に記載されている日付またはその他の日付の時点で提供されているこの将来の見通しに関する情報に過度の信頼を置かないように注意してください。 Crescent Pointは、適用法に従って要求されない限り、新しい情報、将来の出来事、またはその他の結果として、公に更新したり、将来の見通しに関する記述を改訂したりする義務を負わないものとします。 クレセントポイントまたは当社を代表して行動する人物に起因する、書面または口頭を問わず、その後のすべての将来の見通しに関する記述は、これらの注意書きによって完全に明示的に修飾されます。
Product Type Production Information
The current production associated with disposed Assets reported in this Press Release consist of the following product types, as defined in NI 51-101 and using a conversion ratio of 6 Mcf : 1 Bbl where applicable: Light & Medium Crude Oil (85%), NGLs (8%) and Conventional Natural Gas (7%).
Barrels of oil equivalent (“boe”) may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf : 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of oil, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.
クレセントポイントの株式は、トロント証券取引所とニューヨーク証券取引所でCPGのシンボルで取引されています。
ソースクレセントポイントエナジー株式会社
関連リンク
http://www.crescentpointenergy.com
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Source: https://www.prnewswire.com:443/news-releases/crescent-point-closes-agreement-to-dispose-of-remaining-non-core-southeast-saskatchewan-conventional-assets-301307071.html
