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Veren Inc T.VRN

Alternate Symbol(s):  VRN

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

Comment by BigJoe778on Mar 23, 2022 12:54pm
134 Views
Post# 34538227

RE:Re: Cpg 2023 hedges

RE:Re: Cpg 2023 hedgesObviously I don't like their current or past hedges and I'm certainly no expert haha. But since you're asking.........with the current world outlook on oil and the lack of new investment it seems pretty clear we're in for a sustained bull market. I would've followed CVE and MEG and went unhedged for 2022 and at this point 2023 as well. They're making plenty of cash to reach all of their stated goals at only $80-85/barrel. Currently they're losing 35-45% on roughly 36% of their production and the higher the barrel goes the worse that number will be for the entire year. Using MEG as an example for comparison as they're considered an industry peer......they hit $1.13/share compared to $0.75/share for CPG. I think it's pretty clear today what the market thinks of the different directions these companies took. I'm not saying CPG won't still see some gains and increase the divy.....I just don't think we're gonna see the prices that some on this board are forecasting. I don't think there's any chance we see $15 by Aug or even year end unless management unleashes some big unexpected surprise that the market likes. Just my opinion. 
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