Executives from the oil and gas producer Crescent Point met with the TL Penner Construction team for their ground breaking event in Carlyle on Thursday, April 17.
Crescent Point, which is currently located at 7th Street W, is set to be relocated on Railway Avenue at the corner of highway 13 and highway 9. According to team lead for corporate facilities at Crescent Point, Barb Morrison, the company is happy to announce their partnership with TL Penner Construction Inc. She said the 20,000 square foot office building will be two stories high and will sit at the corners of highway 13 and 9. The main door will face eastward with the entrance on Railway Avenue. Construction is slated to start next month and she said Crescent Point hopes to move in by mid 2015.
"Crescent Point is currently housed in an older, smaller building in the residential area of Carlyle and we have out-grown the premises and we need new a premises," she said.
Barb Morrison along with other members of the Crescent Point team flew from Calgary for the special occasion. TL Penner Construction Inc. is a Manitoba based company and is responsible for the construction of the health centre in the neigbouring community of Redvers. They also built the Redvers Affinity Credit Union formerly known as Spectra Credit Union. The company has more than 40 years of experience in construction and has completed various projects throughout central, northern, and Western Canada.
Morrison praised the Carlyle team describing them as great and said they are doing an excellent job.
"Due to the hard work and efforts of our outstanding southeast Saskatchewan team we have grown to 75 to 80 thousand barrels of oil a day and this will be a new home fitting for their hard work and effort," she said.
She explained the company is excited to go forward at this new facility with the goal of continued strength and growth.
Morrison also added there is a possibility of employment for the community due to the expansion, although there is nothing concrete as of yet.
Crescent Point, which was founded in 2001 has seen gradual success over the year and the Carlyle office has become an integral part of the company's growth. In March Crescent Point celebrated the company's listing on the New York Stock Exchange (NYSE). And just this month the company reported a significant Torquay discovery in southeast Saskatchewan and according to an article in the Wall Street Journal the discovery is an extension of the company's Three Forks resource play in North Dakota.
"Crescent Point has more than 220 net sections of core-area Torquay land and 400 low-risk Torquay drilling locations on the Canadian side of the border," the article stated. In a statement by president and CEO of the company, Scott Saxberg said they are excited about the results they have seen in Torquay.
"These are high rate of return wells at low capital costs relative to North Dakota that complement the Bakken production from our core Flat Lake area. To put it in context, this play has the potential to be the equivalent size of our Viewfield Bakken play," he said.
Barb Morrison also added the company is excited about Torquay and all the otherexciting projects they have going on in southeast Saskatchewan.
"We have several staff in both the Carlyle and Weyburn offices that are responsible for activities throughout our entire field in south east Saskatchewan," she said.
"Staff from both offices will be responsible for developing the Torquay discovery and all the other exciting projects we have on the go in southeast Saskatchewan."
