November 10, 2016 / 11:42 AM / 10 months ago

BRIEF-Crescent Point Energy says Q3 production of 160,610 boe/d

Nov 10 (Reuters) - Crescent Point Energy Corp

* Crescent Point announces Q3 2016 results highlighted by expansion of the flat lake area and impressive drilling results in the uinta basin

* Quarterly production of 160,610 boe/d in Q3 2016, which was ahead of company’s budget

* Qtrly funds flow from operations totaled $368.1 million, or $0.72 per share diluted, which was also ahead of budget

* Remain on track to meet or exceed 2016 annual average production guidance of 167,000 boe/d

* Increased Q4 2016 capital budget by $150 million in september 2016

* Sees incremental capital to positively impact Q1 2017 production, which is expected to be 10,000 boe/d higher than Q3 2016 production

* Crescent point also increased spending plans in its 2017 preliminary outlook from $950 million to $1.4 billion

* Preliminary outlook for 2017 spending assumes a 2017 exit production of approximately 175,000 boe/d to 177,000 boe/d

* Crescent point energy corp - crescent point expects to finalize its 2017 budget in late A4 or early january 2017

* For 2017, has 25 percent of its oil production hedged at a weighted average market value price of approximately C$70/bbl

* As at november 4, has 44 pct of oil production, net of royalty interest, hedged for remainder of 2016

* Q3 2016 results highlighted by expansion of the flat lake area and impressive drilling results in the Uinta basin Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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