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 > Food for thought..

<< Previous

Bullboard Posts

Next >>

Comment by highalpha1on Jun 11, 2021 12:19am

117 Views

Post# 33370531

RE:Food for thought..

@Moemoney42: Thanks for posting this. I had not yet come across this excerpt in the G&M.

Moemoney42 wrote:

Globe says Crescent seen "unlocking unrecognized value"

2021-06-09 07:43 ET - In the News

The Globe and Mail reports in its Wednesday, June 9, edition that ATB Capital Markets analyst Patrick O'Rourke is sticking with his "outperform" call for Crescent Point Energy. The Globe's David Leeder writes that Mr. O'Rourke elevated his share target to $7 from $6.75. Analysts on average target the shares at $6.17. Mr. O'Rourke says some folks might be underwhelmed by the $93-million in cash Crescent Point fetched from the disposition of its remaining non-core southeast Saskatchewan assets. However, he emphasizes the sale is a $220-million reduction in the company's asset retirement obligations, which is almost 25 per cent of its outstanding balance. Mr. O'Rourke says in a note: "Overall, we view the event as positive, though unsurprising. ... We believe that Crescent Point holds a significantly undervalued asset base, with the stock currently trading at a 24-per-cent return to our PDP + Risked Upside based target of $7. With the company's transition plan, CPG refocused its efforts on its core assets and showed a willingness and ability to dispose of non-core assets in order to unlock unrecognized value." The Globe reported on March 26 that Desjardins rated Crescent "buy." It was then worth $5.01.