CORRECTED-Crescent Point Energy expects to lower 2015 capital expenditure budget

Fri Nov 7, 2014 1:40pm EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Corrects word "if" to "but" in quote to make clear 2015 budget will not be significantly lower)

CALGARY, Alberta Nov 7 (Reuters) - Canadian light oil producer Crescent Point Energy said on Friday it expects its 2015 budget will be lower than 2014 given recent crude oil price volatility.

"We are currently in the middle of 2015 budget process, we haven't finalized anything yet, but given the recent volatility the 2015 budget will be slightly lower than 2014, but not significantly," Crescent Point chief executive officer Scott Saxberg said on a third quarter earnings call.

In 2014 Crescent Point's capital expenditure guidance was C$2 billion. (Reporting by Nia Williams; Editing by Chizu Nomiyama)