Crescent Point Energy Sells Assets In US, Canada for $684M

Law360 (September 3, 2019, 5:04 PM EDT) -- Calgary-based Crescent Point Energy Corp. said Tuesday that it has agreed to sell its entire Uinta Basin asset along with some conventional assets in southeast Saskatchewan for a combined CA$912 million ($684 million) in cash — bringing its total asset sales this year to CA$975 million.

According to the Canadian oil and gas company’s statement, the deal to sell the assets comes amid a financial improvement effort by the company and a sale process for the Uinta Basin asset, located in Utah, that launched in the first quarter of the year.

"Since we established our transition plan in September 2018, we...

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