Crescent Point Energy Stock

Crescent Point Energy Corp. (Crescent Point) operates as an oil and gas exploration, development, and production company. The company is a conventional oil and gas producer with assets strategically focused on properties consisted of high quality, long life, operated, light and medium crude oil, natural gas liquids and natural gas reserves in Western Canada and the United States. The primary assets of the company are its interest in the Crescent Point Resources Partnership (the Partnership), shares in Crescent Point Holdings Inc. (CPHI), shares in Crescent Point U.S. Holdings Corp. (CPUSH), and indirectly, shares in Crescent Point Energy U.S. Corp. (CPEUS).

The crude oil and natural gas properties and related assets generating income for the benefit of the company are located in the provinces of Saskatchewan, Alberta, British Columbia and Manitoba and in the states of North Dakota and Montana. The properties and assets consist of producing crude oil, natural gas liquids and natural gas reserves and Proved plus Probable crude oil, natural gas liquids and natural gas reserves not yet on production, and land holdings.

Strategy

The company’s strategy is to deliver lasting market-leading value to itsstakeholders as a trusted, ethical and environmentally responsible source for energy. The company strategically develops its properties through detailed technical analysis including reservoir characteristics, petroleum initially in place, recovery factors and the applicability of enhanced recovery techniques. The company’s development strategies include, multi-stage fracture stimulation of horizontal wells, infill and step-out wells, re-completion of existing wells along with the application of secondary and enhanced oil recovery techniques, including waterflood programs.

Partnership

The Partnership is a general partnership governed by the laws of the province of Alberta. The existing business of the company is carried on through the Partnership and through CPEUS. The Partnership holds all of the company’s Canadian operating assets and CPEUS holds all of its the U.S. operating assets.

Major Oil and Gas Properties

Kaybob Area

Kaybob Duvernay production is a combination of natural gas liquids and natural gas, weighted approximately 59% to natural gas liquids. The play is being developed using multi-staged fractured horizontal wells. In 2022, Crescent Point's gross production averaged approximately 37,000 barrel of oil equivalent (boe) per day. 2022 production was made up of approximately 47% condensate. In 2022, the company expanded its Kaybob Duvernay assets with the acquisition of certain Duvernay assets from Repsol Oil & Gas Canada Inc.

North Dakota Area

In North Dakota, the company is developing the Bakken resource play, in which the production is a high-quality light oil and is developed using multi-staged fractured horizontal wells. In 2022, Crescent Point's gross production averaged approximately 19,000 boe per day.

Viewfield Area

The Viewfield resource area, located in southeastern Saskatchewan, has development in the Bakken resource play, as well as conventional plays, including the Frobisher and Midale. In 2022, Crescent Point's production averaged approximately 31,000 boe per day in the area. The majority of production is from the Bakken resource which is a high quality light oil and is exploited using multi-fractured horizontal wells. The core area of the Bakken resource has mostly been unitized, which has allowed for the implementation of various waterflood projects.

Shaunavon Area

The Shaunavon resource area, located in southwest Saskatchewan, has development occurring in the Upper and Lower Shaunavon resource zones, as well as conventional Upper Shaunavon pools, all of which are medium quality oil. The tight oil Upper and Lower resource plays have been developed using multi-stage fracture stimulated horizontal wells. In 2022, Crescent Point's production averaged approximately 19,000 boe per day in the area.

Environmental Regulation and Protection Requirements

The company is subject to a number of federal and state laws and regulations, including the federal Occupational Safety and Health Act (OSHA) and comparable state laws, whose purpose is to protect the health and safety of workers. In addition, the OSHA hazard communication standard, the EPA community right-to-know regulations under Title III of the federal Superfund Amendment and Reauthorization Act and comparable state statutes require that information be maintained concerning hazardous materials used or produced in the company’s operations and that this information be provided to employees, state and local government authorities and citizens.

The company is subject to federal and state laws and regulations relating to preservation and protection of historical and cultural resources. Such laws include the National Historic Preservation Act, the Native American Graves Protection and Repatriation Act, Archaeological Resources Protection Act, and the Paleontological Resources Preservation Act, and their state counterparts and similar statutes, which require certain assessments and mitigation activities if historical or cultural resources are impacted by the company’s activities and provide for civil, criminal and administrative penalties and other sanctions for violation of their requirements.

History

Crescent Point Energy Corp. was incorporated pursuant to the provisions of the Company Act (British Columbia) in 1994.