- What is Crescent Point's production?
- What is Crescent Point's production mix?
- What is Crescent Point's reserve life index?
- What distinguishes Crescent Point from other oil and gas companies?
- How often is Crescent Point planning to make dividends to its shareholders?
- Do Crescent Point's dividends qualify for the Dividend Tax Credit in Canada?
- How is the amount of dividends determined?
- What is Crescent Point's hedging policy?
- Who evaluates Crescent Point's reserves?
What is Crescent Point's production?
During third quarter 2011, the Company produced an average of 72,258 boe/d, 90 percent weighted to light and medium crude oil. This represents a 10 percent production increase over third quarter 2010.
What is Crescent Point's production mix?
In Q3 2011, Crescent Point’s production was weighted 90 percent to light and medium crude oil and liquids.
What is Crescent Point's reserve life index?
Crescent Point has an estimated reserve life index of 14.3 years proved plus probable.
What distinguishes Crescent Point from other oil and gas companies?
- low risk drilling inventory of 6,500 locations,
- excellent balance sheet with low debt to cash flow ratio,
- proven management team and Board of Directors with main strengths in acquisitions, exploitation and development,
- high quality long life reserves and cash flow base, and
- potential to double reserve base over time through exploitation and development.
How often does Crescent Point make dividends to its shareholders?
Crescent Point pays dividends to shareholders on a monthly basis with payment made on the 15th of each month.
Do Crescent Point's dividends qualify for the Dividend Tax Credit in Canada?
Yes, assuming the CPG shares are held in taxable accounts.
Please refer to the tax information page for more information.
How is the amount of dividends determined?
Crescent Point's dividends to shareholders are paid monthly and are dependent upon commodity prices, production levels and the amount of capital expenditures to be funded from cash flow. The Corporation contributes part of its cash flow towards the capital program to provide for more sustainable dividends in the future. The actual amount of the dividends are at the discretion of the Board of Directors. In the event that commodity prices are higher than anticipated and a cash surplus develops during a quarter, the surplus may be used to increase dividends, reduce debt, and/or increase the capital program.
What is Crescent Point's hedging policy?
Crescent Point hedges up to 50 percent of production, after adjusting for royalty volumes (65% if at least 15% are put options), for three and a half years to provide greater stability to dividends. In addition, by layering in hedges as commodity prices move upward, value and stability will increase for shareholders. Hedges currently in place are outlined on Crescent Point's hedging page.
In 2008, the Corporation monetized certain of its 2009 and 2010 hedges and reset them at higher prices. This hedge monetization and reset program will provide further cash flow stability in 2009 and 2010 to support the Corporation's monthly distribution increase to $0.23 per unit and will also provide a mechanism to reduce 2008 taxable income due to record high cash flow.
Who evaluates Crescent Point's reserves?
GLJ Petroleum Consultants Ltd. and Sproule Associates Ltd., based in Calgary, Alberta.
