The Weyburn Colosseum will now be known as Crescent Point Place, as the naming rights were secured by Crescent Point Energy Trust with a $200,000 commitment to the City of Weyburn. Scott Saxberg, president and Chief Executive Officer (CEO) of Crescent Point Energy Trust, said, "We felt that the best way to support the community that we work in was to commit this funding to the Colosseum facility, as it has a positive role for residents in the community."

"It is fantastic to have a company that is investing in the community by purchasing the naming rights of the Colosseum," said Mayor Debra Button. "To have a partner commit to the Colosseum project speaks volumes about what is happening in our community right now, especially in regards to activity in the oil field."

City council approved Phase Three of renovations at the Colosseum on May 26, with an estimated budget of $3 million. The city has about $1.3 million available via internal loans to use for the project, with the rest having to be funded externally.

"The commitment by Crescent Point Energy Trust to the project was phenomenal; it will go a long way to helping build a facility that will benefit our community," said City of Weyburn manager Bob Smith.

"This funding to the Colosseum is very relative to the community of Weyburn, as it will strengthen our future growth," said Ken Cugnet, director on the board for Crescent Point Energy Trust. "The company has a lot of young people who work for them who have families and their children will be among those who will benefit from the upgrades at this facility."

"We strongly believe in giving back to a community that we work in," said Cugnet.

Renovations on the third phase of the Crescent Point Place facility have already started. Upon completion it will include a new Red Wings dressing room and office, three new public dressing rooms, and private boxes on the upper level, which will mirror the look of the press box on the north side. In addition, there will be three new private boxes installed on the north side of the rink.

"The renovations at the Crescent Point Place are going very well, with demolition complete on the south side of the rink," said Smith. "Workers have started putting the piles in and will start construction soon."

"We are still on schedule for our construction timelines, with hopes to be open by the fall," said Smith. "There might be a couple of home opener games that will have to be played in the Tom Zandee Sports Arena."

Fund raising initiatives continue to be organized by the City of Weyburn. "We have been working hard to keep taxes low in paying for this project by asking for donations from the community, by actively selling the boxes on the ice and the seats in Crescent Point Place," said Button. "We encourage any residents or businesses who want to invest in the facility to come to City Hall for more information."

The business behind the new name, Crescent Point Energy Trust, has been a strong leader in the oil industry in southeast Saskatchewan since its inception in 2001. They are one of the top trading companies in Canada and one of the largest producers of oil in the Bakken Field.

"We have had a successful track record in the last seven years, and we believe that we have just gotten started. In the next year, we will be investing $800 million in southeast Saskatchewan," said Saxberg. "Then in the next ten years, our commitment to the area will average at least $500 million a year on average, a significant investment in the area."

"We are excited about working in this area, especially since we have been here since day one," said Saxberg. "We love supporting the community and the people who work for us. We are also a big supporter of hockey and the role it plays for the residents in the area."

As the company continues to grow, Crescent Point Energy Trust is also looking to expand their Weyburn office due to the activity in the Bakken area and will continue to support other communities in the area. This covers 35 townships that are included in the Bakken Field.

Saxberg touched briefly on the relevance of the Bakken Field, during media interviews. "We are very excited about developing the Bakken play; it is the second largest pool in western Canada and roughly three times the size of the current Weyburn oil field."