Crescent Point to acquire Kaybob Duvernay assets from Shell for $707m.

Crescent Point Energy, an oil and gas company, agreed to acquire Kaybob Duvernay assets from Royal Dutch Shell, a multinational oil and gas company, for $707m, comprising of $551m in cash and 50m common shares of Crescent. "The acquisition is aligned with our core principles to focus on strategic initiatives that enhance our balance sheet strength and sustainability. It is expected to enhance our free cash flow generation, leverage ratios and ESG profile. The depth of high-return drilling inventory also provides optionality within our capital allocation framework. We view the Kaybob assets as low-risk given that they have been delineated over the past decade and key infrastructure and market access are already in place," Craig Bryksa, Crescent Point President and CEO.