RE:Lots of FCF to comeRiverCartel wrote: VET will have a solid Q4 with current WTI/Brent and Austrailian oil pricing. NGAS/TTF is still at a good profitable price range. Nothing to see here but a price war between OPEC and the US. The US is cranking as much oil as they can to keep the price down and refill the SPR, so the floor is around the $70 WTI price range where the US wants to repurchase at. Pending some global calamity, VET's FCF will be solid.
As the US is currently physically limited to 3 million barrels a month to fill the SPC I doubt it is a reason they are pumping oil. 150,000 bpd won't form a floor Likely it has more to do that US oil shale costs are very low and there is money to be made at these prices by these companies.