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Stock Market & Financial Investment News

News For CPG From The Last 14 Days
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May 26, 2015
17:27 EDTCPGCrescent Point Energy announces bought deal arrangement to offer 21M shares
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17:18 EDTCPGCrescent Point Energy sees FY15 average daily production162,500 boe/d
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17:11 EDTCPGCrescent Point announces purchase of Legacy Oil + Gas
Crescent Point Energy is pleased to announce that it has entered into an arrangement agreement to acquire all of the issued and outstanding shares of Legacy Oil + Gas. Legacy is a publicly-traded, light oil-weighted producer with approximately 22,000 boe/d of high-netback production, of which more than 15,000 boe/d is from conventional and unconventional plays in Crescent Point’s core southeast Saskatchewan, Manitoba and North Dakota areas. The assets to be acquired include approximately 1,000 net sections of land, of which approximately 525 net sections are in southeast Saskatchewan. The southeast Saskatchewan lands include approximately 200 net sections in the emerging and highly-economic Midale light oil resource play. Total consideration for the Legacy Arrangement is approximately $1.53B, comprised of approximately 18.97M Crescent Point common shares and the assumption of approximately $967M of net debt, estimated as at the time of closing and inclusive of transaction costs. Under the terms of the Legacy Arrangement, Crescent Point has agreed to acquire all of the issued and outstanding shares of Legacy at an exchange ratio of 0.095 Crescent Point common shares for each Legacy share. Crescent Point also expects to assume approximately $967M of net debt, including transaction costs. The Company’s aggregate consideration for Legacy is approximately $1.53B, based on a 5-day volume weighted average trading price of $29.55 per Crescent Point common share. This exchange ratio represents a premium of 36% to Legacy’s weighted average trading price in the 10 days prior to the April 17, 2015 announcement of FrontFour Capital Group LLC seeking to nominate three new directors to the Legacy board of directors.
May 21, 2015
07:25 EDTCPGUBS to hold a conference
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May 18, 2015
10:01 EDTCPGOn The Fly: Analyst Downgrade Summary
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06:31 EDTCPGCrescent Point Energy downgraded to Neutral from Buy at Goldman
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