RE:RE:RE:RE:RE:Free cash flow
You are right. Indeed, from the graph, at $60, FFO is around $700M, minus $300M capex, FCF is $400M.
But how to squre this with the following calculation:
"2020 Q3 ending Sept 30 2020, VET had FCF 83M with average of $41 WTI".
"+US$1/bbl change in oil = +$17MM of FCF".
Therefore, for a full year, at $60, FCF should be around $83M * 4 + (60-41) * $17M = $655M.