• Sign up for the Daily Digest E-mail
  • Facebook
  • X
  • LinkedIn

BOE Report

Sign up
  • Home
  • StackDX Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

Crescent Point reports $2.32-billion Q1 loss due to plunge in oil prices

May 6, 20205:26 AM The Canadian Press0 Comments

CALGARY – Crescent Point Energy Corp. reported a $2.32-billion first-quarter loss as it took a non-cash charge of $3.56 billion due to the plunge in oil prices.

The company says the loss amounted to $4.40 per diluted share for the quarter ended March 31 compared with a profit of $1.9 million or less than a penny per diluted share a year ago.

Crescent Point says its adjusted net earnings from operations totalled $48.7 million or nine cents per share for the quarter ended March 31 compared with $158.3 million or 29 cents per share in the first three months of 2019.

The company slashed its capital spending plan and lowered its production guidance earlier this year due to the COVID-19 pandemic and a dramatic decline in oil prices.

Crescent Point expects to capital spending to be between $650 million and $700 million, down from its original budget of more than $1 billion.

Its annual average production forecast is for between 110,000 and 114,000 barrels of oil equivalent per day for 2020 if shut-in production remains off line for the remainder of the year.

Veren

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Discount on Western Canada Select widens
  • European Commission proposes Russian oil price cap 15% below global price
  • US oil/gas rig count down for 11th week to lowest since 2021, Baker Hughes says
  • Taiwan’s CPC Corp eyes US shale gas assets, sources say
  • Saudi Arabia complying fully with voluntary OPEC+ target, energy ministry says

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contact
    • Report Error
    BOE Network
    © 2025 Stack Technologies Ltd.