Parties
Company
Crescent Point Energy Corp.
Company
Spartan Delta Corp.
On May 10, 2023, Crescent Point Energy Corp. has successfully completed its strategic acquisition of Montney oil and liquids-rich assets in Alberta for $1.7 billion in cash. This addition, which aligns with Crescent Point's long-term strategy, expands the company's portfolio with 600 high-return locations and boosts its adjusted funds flow and excess cash flow per share by 20%. The acquisition offers significant potential for reserves growth and enhanced efficiencies due to its proximity to the existing Kaybob Duvernay play.
Deal Type
Merger & AcquisitionIndustry
EnergyTransaction
$ 1,700,000,000Deal Status
ClosedClosing Date
10 May 2023