Crescent Point Energy announced today that it intends to change its name to Veren Inc. and will seek shareholder approval for the change at its upcoming Annual and Special Meeting of Shareholders ("AGM") on May 10, 2024.

"Our new name and logo represent the culmination of our remarkable transformation over the last several years and better reflect the notable improvements we have made to our business," said Craig Bryksa, President and CEO of Crescent Point. "Our portfolio now boasts a top-quartile asset base with significant inventory. In addition to strengthening our long-term excess cash flow and return of capital profile for shareholders, we have also bolstered our ESG practices including enhanced governance, environmental stewardship, safety practices and community involvement. Through our hard work, we have reached a turning point and are on a new and exciting trajectory. It is now time to embrace a new brand that is representative of our promising future and our purpose statement of Bringing Energy To Our World – The Right Way."

The name Veren combines the Latin word for 'truth' – veritas – and 'energy'. The Company will formally adopt the new name and visual identity upon receiving all necessary shareholder and regulatory approvals. The Company's common shares will begin trading on the Toronto and New York stock exchanges under the symbol 'VRN', shortly after shareholder approval is received, with further details to be provided at a later date.

KeyFacts Energy: Crescent Point Energy Canada country profile