The Calgary-based oil and gas company, acquired Spartan Delta Corp.'s assets in the Montney - one of North America's largest unconventional petroleum plays, spanning northeast B.C. and northwest Alberta - earlier in 2023.
“We are currently running a one-rig program in the Montney but will be evaluating that - eventually looking to add a second rig to further accelerate the high-return development of our deep inventory in the play,” Bryksa told analysts on a conference call to discuss Crescent Point's financial results.
Together, the two regions represent what Crescent Point believes are its greatest opportunity. In August, the company announced it would sell off its North Dakota assets in order to focus more on the Montney and Duvernay. The company said the loss amounted to $1.52 per share for the quarter ended Sept. 30, compared with a profit of $466.4 million or 82 cents per share a year earlier.
Average daily production was 180,581 barrels of oil equivalent for the quarter, up from 133,019 a year ago.
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