Crescent Point Energy Corp. says it plans to spend $1.05 billion to $1.15 billion on development capital expenditures next year.
The company says about 70 per cent of its 2024 budget is expected to be spent on its Kaybob Duvernay and Alberta Montney operations.
The remaining portion of its capital budget will be spent on its long-cycle assets in Saskatchewan.
Crescent Point says the preliminary guidance includes the planned sale of its North Dakota assets, which is expected to close in fourth quarter 2023.
The company announced last month that it has signed a deal to sell its North Dakota assets to a private operator for about $675 million in cash.
- ‘Enough is enough’: Ottawa hikes student visa financial onus, threatens limits
- On the Brink: Retiree living in converted laundry room feels ‘overlooked’ amid housing crisis
- Loblaw, Walmart face heat on what they are doing to stabilize food prices
- ‘Mystery’ dog illness now in Canada. But should owners worry?