Crescent Point Energy cuts 2016 budget by as much as 39 pct

Thu Jan 7, 2016 6:45am EST
 
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Jan 7 (Reuters) - Canadian oil and gas producer Crescent Point Energy Corp cut its capital budget for 2016 by as much as 39 percent from 2015.

The company expects to spend between C$950 million to C$1.3 billion ($672 million-$920 million) in the current year, about 16-39 percent lower than its 2015 estimates. ($1 = 1.4135 Canadian dollars) (Reporting by Shubhankar Chakravorty in Bengaluru; Editing by Maju Samuel)