Crescent Point Announces New President And CEO

Craig Bryksa has taken over as interim president and CEO of Crescent Point Energy Corp., replacing Scott Saxberg.

As part of the transition, Bryksa has also replaced Saxberg on the board as a director of the company.

Bryksa, formerly vice-president, Engineering West with Crescent Point, is a professional engineer with a deep knowledge and understanding of the company’s asset base, Crescent Point said this morning.

“I’m proud of what Crescent Point has accomplished,” said Saxberg. “We built a company from scratch to over 180,000 boe/d and in doing so, we have rewarded our shareholders with $7.5 billion in dividends. After 15 years as the CEO, it’s time for me to move on and I’m confident and excited for Craig and the team to oversee Crescent Point’s long-term success.”

Bryksa has been directly responsible for the operations of each of Crescent Point’s core areas throughout his 12 year history with the organization. Most recently, he was responsible for overseeing the operating activities for the company’s Shaunavon, Uinta Basin, North Dakota, Viking, Swan Hills and other Alberta resource plays, including the East Shale Duvernay.

The company said it will prioritize key value drivers, including continuing improvement of the balance sheet, capital allocation, cost reductions, strong rates of return on capital employed and free cash flow generation. These key areas of focus are expected to improve Crescent Point’s sustainability and debt adjusted per share metrics.

In addition to this management change, the board said it remains committed to its ongoing renewal process to ensure new ideas are recognized within a group of directors with diverse skillsets and experiences.



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