Crescent Point Energy Corp. has announced that it has entered into an agreement to acquire additional Kaybob Duvernay assets from Paramount Resources Ltd. for a cash consideration of US$375 million in Canada.
The Kaybob Duvernay acquisition represents 130 net drilling sites on nearly 65,000 net acres of crown land with no expiration date. This currently produces over 4,000 boe/d (50% liquids) and includes a gas plant, associated pipelines, water infrastructure and seismic data. The assets are adjacent to the existing Crescent Point land base, further expanding the company's scale by 25%.
Crescent Point Renewed and extended credit facilities with a new maturity date of November 2026.