Valeura Energy Inc. T.VLE

last ten years average price

[Carbonbull]

2013	$108.56
2014	$98.97
2015	$53.03
2016	$45.13
2017	$54.71
2018	$71.34
2019	$64.28
2020	$41.96
2021	$70.86
2022	$100.93
2023	$82.70

[CravenMoorehead]

That is 11 years. Average absolute price of $72, but inflation adjusted would be over $90, so what's the point here?

[Overertune]

Does anyone believe US shale will overflow the market in 2024? Or this is just another excuse the manipulator use to get lower prices?  Before they keep using "recession fear" but that doesn't work anymore.

[Carbonbull]

THe point is to stop fretting about spot , and think about average price obtained before hedging as the metric that drives equity. because the underlying average has a large atandard deviation around the mean (relative to free cash flow generation, ie a 30 dolar change in average price tends to wipe out FCF) if you have high debt .  VLE has no net debt and will in fact have net cash on hand

[CravenMoorehead]

Got ya, and completely agree.