SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of
June 2021
Commission File Number 001-36258
Crescent Point Energy Corp.
(Name of Registrant)
Suite 2000,
585-8th Avenue S.W.
Calgary, Alberta, T2P 1G1
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or
will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F ☐ Form
40-F ☒
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Indicate by check mark whether by furnishing the information
contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.
Yes
☐ No ☒
If "Yes" is marked, indicate below the file
number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
DOCUMENTS FILED AS PART OF THIS FORM 6-K:
Exhibit No.
99.1 |
Description
News Release dated June 22, 2021 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Crescent Point Energy Corp. |
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(Registrant) |
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By: |
/s/ Ken Lamont |
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Name: |
Ken Lamont |
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Title: |
Chief Financial Officer |
Date: June 22, 2021
EXHIBITS
Exhibit 99.1
Crescent Point Releases 2021 Sustainability Report
CALGARY, AB, June 22, 2021 /CNW/ - Crescent Point
Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce the release of its
2021 Sustainability Report (the "Report"). The Report is highlighted by the Company's increased target for emissions intensity
reduction, an increase from 30 to 50 percent by 2025, including a 70 percent reduction in absolute methane emissions. The Report also
outlines the Company's latest progress and commitment to strong environmental, social and governance ("ESG") performance throughout
its operations. In addition, the Company also released updated disclosure in reference to the Task Force on Climate-related Financial
Disclosures ("TCFD") underlining its effective risk management practices.
"Our 2021 Sustainability Report highlights the
progress we have made to enhance Crescent Point's social impact, governance oversight, and environmental stewardship. By making progress
in these key areas, we are able to achieve our purpose of 'Bringing Energy To Our World - The Right Way'," said Craig Bryksa, President
and CEO of Crescent Point. "As part of our commitment to strong ESG performance, we will be dedicating between three to five percent
of our go-forward annual maintenance capital budget to environmental stewardship projects. By continuing to integrate sustainability practices
into our capital allocation process and business operations, we are effectively mitigating risks and capitalizing on opportunities to
position the Company for further success and enhanced shareholder value."
KEY HIGHLIGHTS - ENVIRONMENTAL
- Increasing the Company's targeted
emissions intensity reduction to 50 percent by 2025, and increasing its absolute methane emissions reduction target to 70 percent, in
each case relative to a 2017 baseline.
- Setting a target to reduce inactive
well inventory by 30 percent over the next ten years, including approximately 400 wells planned for safe retirement in 2021, far exceeding
regulatory compliance obligations.
- Developing freshwater use targets, which are anticipated to be
released later this year. These targets are expected to reflect, and build upon, the significant success the Company had in reducing its
freshwater use intensity in 2020.
KEY HIGHLIGHTS - SOCIAL
- Achieving five-year best in
safety performance for lost time incident frequency and serious incident frequency in 2020 as a direct result of engagement with employees
and contractors to promote safety across the Company's operations.
- Enhancing engagement with Indigenous
contractors and suppliers, in particular in the Company's recently acquired Kaybob area, to build capacity and share in the skills, traditional
knowledge and expertise of the Company's Indigenous partners.
- Continuing to support the communities in which the Company operates
by providing over $1.7 million in funding support for more than 315 local charities and community organizations, including a renewed multi-year
commitment to STARS Air Ambulance.
KEY HIGHLIGHTS - GOVERNANCE
- Furthering the Company's commitment
to gender diversity, including increasing and achieving its Board diversity target of at least 30 percent of independent director positions
on the Board being held by women.
- Revising Board Committee mandates
to ensure strong ESG oversight and accountability, further evidencing the Company's commitment to effective governance and risk management.
- Strengthening the link between executive and employee compensation
and ESG performance through the Company's short-term incentive plan scorecard, which includes an increased weighting of 30 percent on
ESG metrics.
The Report is Crescent Point's third sustainability
report and builds upon the inaugural report released in 2019 and the second report released in 2020. The full Report, including a downloadable
PDF and data tables, is available on Crescent Point's website at www.crescentpointenergy.com. The TCFD disclosure is also available on
the Company's website.
Forward-Looking Statements
Any "financial outlook" or "future
oriented financial information" in this press release, as defined by applicable securities legislation has been approved by management
of Crescent Point. Such financial outlook or future oriented financial information is provided for the purpose of providing information
about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may
not be appropriate for other purposes.
Certain statements contained in this press release
constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and section 21E of the
Securities Exchange Act of 1934 and "forward-looking information" for the purposes of Canadian securities regulation (collectively,
"forward-looking statements"). The Company has tried to identify such forward-looking statements by use of such words as "could",
"should", "can", "anticipate", "expect", "believe", "will", "may",
"intend", "projected", "sustain", "continues", "strategy", "potential", "projects",
"grow", "take advantage", "estimate", "well-positioned" and other similar expressions, but these
words are not the exclusive means of identifying such statements.
In particular, this press release contains forward-looking
statements pertaining, among other things, to the following: continued environmental improvement; strategy and purpose; ESG priorities;
risk management; reducing GHG emissions intensity by 50 percent by 2025, from 2017 levels, including a 70 percent reduction in absolute
methane emissions by 2025 and the ways in which these targets will be achieved; dedicated funding of 3-5 percent of annual maintenance
capital to support environmental stewardship initiatives, that will support the responsible development of our assets; opportunities to
position the Company for further success, increased shareholder value and mitigating risks; reducing inactive well inventory by 30 percent
over the next ten years; retiring approximately 400 wells in 2021; targets for water use and timing of release thereof; expanding Indigenous
engagement in connection with the recent acquisition of Duvernay assets and across all operation areas; building and sharing in the skills,
traditional knowledge and expertise of the Company's Indigenous partners; continuing to support communities in which the Company operates
through funding; linking the Company's short-term incentive plan scorecard to include an increased weighting of 30 percent on ESG targets;
and continuing to build upon effective governance.
All forward-looking statements are based on Crescent
Point's beliefs and assumptions based on information available at the time the assumption was made. Crescent Point believes that the expectations
reflected in these forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct
and such forward-looking statements included in this report should not be unduly relied upon. By their nature, such forward-looking statements
are subject to a number of risks, uncertainties and assumptions, which could cause actual results or other expectations to differ materially
from those anticipated, expressed or implied by such statements, including those material risks discussed in the Company's Annual Information
Form for the year ended December 31, 2020 under "Risk Factors" and our Management's Discussion and Analysis for the year ended
December 31, 2020 and for the quarter ended March 31, 2021, under the headings "Risk Factors" and "Forward-Looking Information".
The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these
are interdependent and Crescent Point's future course of action depends on management's assessment of all information available at the
relevant time. References to emissions intensity refer to scope 1 greenhouse gas emissions.
Additional information on these and other factors
that could affect Crescent Point's operations or financial results are included in Crescent Point's reports on file with Canadian and
U.S. securities regulatory authorities. Readers are cautioned not to place undue reliance on this forward-looking information, which is
given as of the date it is expressed herein. Crescent Point undertakes no obligation to update publicly or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, unless required to do so pursuant to applicable law. All
subsequent forward-looking statements, whether written or oral, attributable to Crescent Point or persons acting on the Company's behalf
are expressly qualified in their entirety by these cautionary statements.
FOR MORE INFORMATION ON CRESCENT POINT ENERGY,
PLEASE CONTACT:
Brad Borggard, Senior Vice President,
Corporate Planning and Capital Markets, or
Shant Madian, Vice President, Investor Relations and Corporate Communications
Telephone: (403) 693-0020 Toll-free (US and Canada): 888-693-0020 Fax: (403) 693-0070
Address: Crescent Point Energy Corp. Suite 2000, 585 - 8th Avenue S.W. Calgary AB T2P 1G1
www.crescentpointenergy.com
Crescent Point shares are traded on the Toronto Stock
Exchange and New York Stock Exchange under the symbol CPG.
View original content:http://www.prnewswire.com/news-releases/crescent-point-releases-2021-sustainability-report-301316840.html
SOURCE Crescent Point Energy Corp.
View original content: http://www.newswire.ca/en/releases/archive/June2021/22/c0711.html
%CIK: 0001545851
CO: Crescent Point Energy Corp.
CNW 08:00e 22-JUN-21
This regulatory filing also includes additional resources:
ex991.pdf
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