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Veren Inc 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
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Comment by ltrabson Sep 06, 2019 3:55pm
69 Views
Post# 30103630

RE:Didn't CPG take a HUGE writedown on assets year prior?

RE:Didn't CPG take a HUGE writedown on assets year prior? Version:1.0 StartHTML:0000000183 EndHTML:0000013161 StartFragment:0000005129 EndFragment:0000013125 SourceURL:file:///Users/LT/Desktop/Est%20net%20after%20tax%20lo%23283F59.doc

Quote from …  cpg_announces_sale_of_uinta_and_non-core_sask_assets_-_september_3_2019

 

Crescent Point expects to realize an after-tax loss on the sale, or impairment, within its third quarter 2019 financial results that equates to less than three percent of the value of its total net property, plant and equipment as at June 30, 2019.

 

6. PROPERTY, PLANT AND EQUIPMENT

Net carrying amount, end of period 10,326.8 million       

three percent ….  =  310 million

 

I’m not sure, but this indicates to me company will make expected operating profit less loss on sale of 310 million …. ,

Q3 net loss over 200 million, 

Full year net loss over 100 million 

 

While 2020 results should show significantly lower production it well show an operating profit improvement. 

 

Any comments ? 

property, plant and equipment of  10,326.8 million while it’s direct from Q2 results seems high to me …

 

 

 

 

 

 

 

 



RagingBull3 wrote: Current Asset sale will incurr a loss for 3rd Q??????




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