Crescent Point Energy to cut capital spending by 28 pct in 2015

Tue Jan 6, 2015 8:31am EST
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Jan 6 (Reuters) - Crescent Point Energy Corp said it would cut its capital spending by 28 percent in 2015 as oil prices continue to tumble.

The Canadian oil producer said it would spend C$1.45 billion ($1.23 billion) in 2015, mostly on drilling projects.

Crescent Point said it expected average daily production of 152,500 barrels of oil equivalent per day, a 9 percent increase over its estimated 2014 production. ($1 = 1.1762 Canadian dollars) (Reporting by Narottam Medhora in Bengaluru; Editing by Simon Jennings)