20:35:20 EDT Thu 02 May 2024
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Crescent Point Energy Corp
Symbol CPG
Shares Issued 619,949,490
Close 2024-03-25 C$ 10.87
Market Cap C$ 6,738,850,956
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FP says Crescent Point CEO believes name change needed

2024-03-26 09:23 ET - In the News

The Financial Post reports in its Tuesday, March 26, edition that Crescent Point Energy is changing its name to Veren Inc. The Post's Chris Varcoe writes that Crescent Point chief executive officer Craig Bryksa said in an interview: "There's nothing wrong with the name. It was a great name and a great company and had a good history. For us, we've completely transformed the organization into a different business. ... It's time for a new name." At the company's investor day meeting in Calgary this week, Mr. Bryksa announced the move and explained Veren combines the Latin word "veritas," meaning truth, with energy. If approved by shareholders in May, the business will also adopt a new ticker symbol and a new logo -- a circle with three colourful "bursts" inside that form the letter 'V.' Mr. Bryksa added: "You go through a series of different names and what fits and what doesn't. So that's where truth and energy (came from), for what we built. We really like the name." The Post says Crescent Point Energy has been busy remaking itself since Mr. Bryksa took over from CEO Scott Saxberg in 2018. Former analyst William Lacey said on X, "The Crescent Point name change to Veren is giving me serious Ovintiv vibes."

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