Veren Inc T.VRN

Alternate Symbol(s): VRN

Energy Oil & Gas E&P

Veren Inc. is a Canada-based oil producer with assets in central Alberta and southeast and southwest Saskatchewan. The principal activities of the Company are acquiring, developing and holding interests in petroleum and natural gas properties and assets related thereto through a general partnership and wholly owned subsidiaries. Its core operational areas include Kaybob Duvernay and Alberta Montney, Shaunavon and Viewfield Bakken. Its Kaybob Duvernay is situated in the heart of the condensate rich fairway, Central Alberta, which provides low risk drilling inventory. Its Alberta Montney assets sit adjacent to its Kaybob Duvernay lands, possessing similar resource characteristics including pay thickness and permeability in the volatile oil fairway of the reservoir. Its Shaunavon resource play is located in southwest Saskatchewan. The Viewfield Bakken light oil pool is located in Saskatchewan.

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Veren Inc

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Post by pppon May 17, 2018 11:15pm

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Post# 28050371

Cost per flowing

The Company's development capital expenditures in the year ended December 31, 2017 were $1.81 billion, compared to $1.14 billion in 2016. In 2017, 794 (649.1 net) wells were drilled with a success rate of 99.9 percent. The development capital for the year ended December 31, 2017 included $359.8 million on facilities, land and seismic.

Production increased by 5 percent to 176,013 boe/d in 2017 from 167,764 boe/d in 2016, primarily due to the Company's successful capital development program and acquisitions, partially offset by natural declines and non-core dispositions.

The Company's weighting to crude oil and NGLs remained consistent with the comparative period.

We know they have a decline rate of 28% This means they need 47600 bbls to stay flat, plus they increased production by 8400 bbls for a total of about 56,000. So their production costs 32,000 per flowing. one of the reasons they like to increase production, is that type of production sells for 60000 per flowing. These guys know what they are doing, leave them alone for every dollar they spend increasing production they get 2 dollars in value. Going forward their declines will drop as they move into waterflood.

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