Veren Inc T.CPG

Primary Symbol: T.VRN Alternate Symbol(s): VRN

Energy Oil & Gas E&P

Veren Inc., formerly Crescent Point Energy Corp., is a Canada-based oil and gas exploration company. The Company is engaged in the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its crude oil and natural gas properties and related assets are located in the provinces of Saskatchewan, Alberta and the United States. Its operating areas include Viewfield area of southeastern Saskatchewan; Shaunavon resource play, which is located in southwest Saskatchewan; Flat Lake play, which is a multi-zone resource play located in southeast Saskatchewan; Kaybob Duvernay play, which is situated in the heart of the condensate rich fairway, Central Alberta, and Montney assets in Alberta. Its wholly owned subsidiaries include Crescent Point Resources Partnership, Crescent Point Holdings Ltd. and Crescent Point U.S. Holdings Corp.

TSX:VRN - Post by User

Veren Inc > Crescent Point Closes Agreement to Dispose

<< Previous

Bullboard Posts

Next >>

Comment by LiquidOctopusV2on Jun 07, 2021 8:56pm

188 Views

Post# 33345506

RE:RE:Crescent Point Closes Agreement to Dispose

I read through the release, where do you see them having earmarked the sale of the assets to reduce bank debt?

Do you have sources for your other comments? Specifically, as to the discount you are referencing.

Eigen337 wrote:

"As a result of the Transaction, Crescent Point also reduced asset retirement obligations ("ARO") by approximately $220 million, or nearly 25 percent of its ARO balance as at March 31, 2021. Proceeds from the disposition have been directed to the Company's balance sheet."

They could of NCIB UP TO ~ 16 million CPG shares BUT they DECIDED to REDUCE bank debt !!!???!!!

It TOOK them 2+ years to FIND A BUYER !!!

GOOD MOVE even IF they had to HEAVILY DISCOUNT the asking price !!!

This is my opinion only.

Eigen337