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CS - Crescent Point trims capex by 35% to stay within funds flow - April 2020

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Crescent Point Energy reduced its capex budget for the year to $700-800 million, a 35% decrease from the original guidance of $1.1-1.2 billion issued in January. CEO Craig Bryksa said the company’s focus is still on returns, capital discipline, cost savings initiatives and balance sheet strength. He added that the new budget should still be funded within cash flow assuming WTI prices in the low US$30/bbl range. Annual average production is expected to be......
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