Crescent Point budgets $1.35 billion for 2013

CALGARY — Organic growth will be the focus for Crescent Point Energy Corp. in 2013, it said Thursday, as it revealed a capital budget that is 23 per cent higher than its initial plan for 2012.

The Calgary-based company which came tantalizingly close to averaging 100,000 barrels of oil equivalent per day in the third quarter vowed to increase average daily production next year to 112,000 boe/d, with an exit rate of 114,000 boe/d.

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