Crescent Point Energy Provides Further Update on Alberta Wildfires

Rhea-AI Summary

Crescent Point Energy Corp. has shut-in its Kaybob Duvernay production due to Alberta wildfires. The company is temporarily shutting back-in the remainder of its 45,000 boe/d of production in the area as a precautionary measure. No damage has been reported to the company's assets. Crescent Point plans to restart production once permitted to do so.

Positive

• Crescent Point Energy Corp. has shut-in its Kaybob Duvernay production due to Alberta wildfires.
• No damage has been reported to the company's assets.
• Crescent Point plans to restart production once permitted to do so.

Negative

• None.

CALGARY, AB, May 16, 2023 /PRNewswire/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) advises that it has shut-in its Kaybob Duvernay production due to the ongoing Alberta wildfires. A portion of this production was recently reactivated in the prior week, however Crescent Point is temporarily shutting back-in the remainder of its 45,000 boe/d of production in the area as a precautionary measure due to changing wildfire conditions. No damage has been reported to the Company's assets.

Crescent Point continues to work with local officials, regulators, and industry partners to ensure everyone's safety in the area and plans to restart production once permitted to do so. The Company will provide another update to this evolving situation when appropriate.

Crescent Point continues to thank its staff, industry partners, emergency responders and firefighters for their hard work and dedication to protecting our communities. 

FOR MORE INFORMATION ON CRESCENT POINT ENERGY, PLEASE CONTACT:
Shant Madian, Vice President, Capital Markets, or
Sarfraz Somani, Manager, Investor Relations
Telephone: (403) 693-0020 Toll-free (US and Canada): 888-693-0020  Fax: (403) 693-0070
Address: Crescent Point Energy Corp. Suite 2000, 585 - 8th Avenue S.W. Calgary AB  T2P 1G1

www.crescentpointenergy.com

Crescent Point shares are traded on the Toronto Stock Exchange and New York Stock Exchange under the symbol CPG.

View original content to download multimedia:https://www.prnewswire.com/news-releases/crescent-point-energy-provides-further-update-on-alberta-wildfires-301826121.html

SOURCE Crescent Point Energy Corp.

FAQ

Why did Crescent Point Energy shut-in its Kaybob Duvernay production?

Crescent Point Energy shut-in its Kaybob Duvernay production due to the ongoing Alberta wildfires.

Is there any damage to Crescent Point Energy's assets?

No damage has been reported to Crescent Point Energy's assets.

What are Crescent Point Energy's plans regarding production?

Crescent Point Energy plans to restart production once permitted to do so.