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 > Cpg has almost 60% of production hedged

<< Previous

Bullboard Posts

Next >>

Comment by JamesTon Feb 24, 2021 10:39pm

187 Views

Post# 32655076

RE:RE:Cpg has almost 60% of production hedged

Just curious if anyone knows. Are there any risk of the Duvernay asset not closing April 2021?

Moemoney42 wrote: Yes but after the closing of the Duvernay assets in April 2021 the amount hedged will drop to ~30% which will allow for capturing the upside in prices or add hedges at a higher value.. as per their website.. quote:
"Prior to the expected closing of the Acquisition in April 2021, Shell plans to bring a number of drilled and uncompleted wells on stream. As a result, production from the acquired Assets is expected to increase to approximately 35,000 boe/d during second quarter 2021."

Also quote:
"~30% of production hedged through remainder of 2021 upon close of Kaybob Duvernay acquisition"

soundandfury wrote: In q1.........almost entirely swaps......no collars......these swaps are @$60.00 CAD........once the price of crude breaches the $60.00 CAD there is no more upside for those barrels.........probably $600,000.00 to $750,000.00 per day that is not finding its way into cpg account but instead some dirivative hedge fund who is counter party to those swaps.........probably why we got no dividend increase today