FCF for 2022Peters and Co estimates $900MM FCF based on $72 WTI and $75 Brent.
The true cash generation of VET is still underappreciated, due to a year of lowball hedges which nullified a large part of the move in European NG prices, and WTI and Brent.
At last update, VET was very lightly hedged for oil and NA NG for 2022, and the hedges they had entered into were $20-$25 higher than the corresponding hedge in 2021.
I believe $1 Billion of FCF is a resonable possiblity, and total debt paydown in 2023 is likely.