For 2015, Calgary-based Crescent Point Energy Corp. (Toronto: CPG.TO) expects to spend $1.45 billion, which is a 28% reduction from 2014 guidance. Approximately $1.27 billion, or 88%, of the 2015 capital expenditures budget is expected to be allocated to drilling and completions, including the drilling of 616 net wells. The remaining $180 million of the budget is expected to be allocated to investments in infrastructure, undeveloped land and seismic across all core areas. As in previous years, the company's 2015 guidance includes the assumption of a lengthy spring break-up in southern Saskatchewan and the anticipated production impact of converting approximately 70 producing wells to water injection wells in the company's waterflood programs.

Crescent Point expects to spend approximately $408 million or 28% of its 2015 budget in the Viewfield Bakken play in southeast Saskatchewan, including drilling approximately 185 net wells.

In the Flat Lake oil resource play, the Company plans to spend $188 million or 13% of its 2015 budget, drilling approximately 44 net wells.

In the Shaunavon area of southwest Saskatchewan, Crescent Point plans to spend approximately $301 million or 21% of its 2015 budget, including drilling approximately 109 net wells.

In the Uinta Basin light oil resource play in northeast Utah, the company plans to spend approximately $154 million or 11% of its 2015 budget, including drilling approximately 36 net vertical and horizontal wells. In 2015, Crescent Point expects to expand its operated horizontal well program with plans for four net wells this year, building on the two net operated horizontal wells drilled at the end of 2014.

In the Viking light oil resource play, Crescent Point plans to spend approximately $135 million or 9% of its 2015 budget, including drilling approximately 137 net wells.

In the company's conventional assets in southeast Saskatchewan, Crescent Point plans to spend approximately $129 million or 9% of its 2015 budget, including drilling approximately 68 net wells. Approximately 40% of these wells are expected to be drilled on lands acquired by the company in 2014. These conventional assets offer high rates of return even at low oil prices and typically require reduced capital expenditures and no fracture stimulation to achieve high levels of production.

The expenditures in the core areas summarized above account for approximately 91% of the Ccmpany's 2015 capital budget. Crescent Point has allocated the remaining $135 million of the capital development budget to the company's other properties in Alberta, Saskatchewan, North Dakota and Manitoba.

The capital expenditures budget is expected to generate average daily production of 152,500 boe/d, a 9%t increase over 2014 guidance.