May 3, 2012 / 12:27 PM / 5 years ago

Crescent Point to buy oil and gas co for C$425 mln

May 3 (Reuters) - Crescent Point Energy Corp will acquire privately held oil and gas company Cutpick Energy Inc for C$425 million to boost its presence in Viking light oil field in Alberta.

Production in Crescent Point's Provost area in Viking is expected to grow to about 7,500 barrels of oil equivalent per day (boe/d) from 2,000 boe/d, after the deal.

Provost will be Crescent Point's third largest producing area, behind the Bakken and Shaunavon areas.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below