Veren Inc T.VRN

New Press Release - Crescent Point Transforms Portfolio with Strategic Alberta Montney Consolidation

CALGARY, Alberta, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce that it has entered into an arrangement agreement (the “Agreement”) to acquire Hammerhead Energy Inc. (“Hammerhead”), an oil and liquids...read article.

[downwithdotcom1]

WOW!!!! see below ....dwdc "The Transaction will create the seventh-largest E&P in Canada with production weighted 65% to oil and liquids. Pro-forma Crescent Point production is expected to total over 200,000 boe/d in 2024, with significant drilling inventory in place to deliver additional long-term organic growth. Crescent Point will immediately become the largest owner of land in the

[Moemoney42]

Well there you have it.. the reason for the shelf prospectus.. the metrics aren't too bad acutally, but I'm sure the shorters will be all over the stock tomorrow..!! Trying to spin a bad deal narrative.. LOL..  I like that its immediately accretive and the production bumps to ~200,000 bls/day with decent contracts in place.  Add to that, the infrastucture is already in place for

[filefish]

Seems like CPG and WCP are in a race to outdo each other in terms of production volumes. Would really have preferred to see see a CPG + WCP merger, but the egoes of both Managements would probably not  allow that to happen.

[Moemoney42]

Just looked at the map accompaning today's press release..  a beautiful fit to their existing holdings and completes a continuous fairway between both their fields now. A great strategy IMO which mimics the way they developed plays in Sask.. dominate an area and have an extensive drilling campain with synergies of the close proximity of their holdings.. a great move.. could take a