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About
Crescent Point Energy Trust
Crescent Point Energy Trust was
created through the reorganization of junior oil and gas companies, Crescent
Point Energy Ltd. (CPE) and Tappit Resources Ltd., in September 2003.
From inception in 2001, CPE executed an aggressive growth plan aimed at
achieving rapid growth through acquisition and drilling. The Company’s business
strategy was built around three main principles: use its excellent balance sheet
and growth capital to acquire high quality, large resource in place properties;
use its high quality assets and strong technical skills to grow production and
reserves; and manage commodity price risk through a balanced three year hedging
program to provide stability to cash flow.
In two short years, CPE grew from a start-up company with only 275 boe/d to a
substantial producer of approximately 5,000 boe/d at the time of the Tappit
acquisition.
At the time of the reorganization, Tappit Resources had production of
approximately 2,100 boe/d, contributing significantly to the production base of
Crescent Point Energy Trust.
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