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.

TSX:VRN - Post by User

Veren Inc

Bullboard Posts

Post by mercatoson Oct 16, 2018 9:18pm

266 Views

Post# 28814923

Q3 worksheet estimate

Posting my worksheet for Q3.

		Estimate FY18 Q3	FY18 Q2
Production
	Days of production in quarter	92	91
	Total Production BOE in Quarter	16,727,256	16,545,438

	Crude oil (bbls/d)	145,532	145,532
	NGLs (bbls/d)	17,934	17,934
	Natural gas (mcf/d)	110,110	110,110
	Total (boe/d)	181,818	181,818
	Crude oil and NGLs (%)	90.00%	90.00%
	Natural gas (%)	10.00%	10.00%
	Total (%)	100.00%	100.00%

Production by Area	Williston Basin	102370	102370
	Southwest Sask	42862	42862
	Uinta Basin	22705	22705
	Other	13881	13881
	Total	181818	181818

Pricing	Avg Selling Prices
	Crude	$80.04	$76.31	$3.36
	NGL	$35.04	$35.04
	Nat gas $/mcf	$1.62	$1.62
	Total $/boe	$65.52	$65.52

	Benchmark Pricing
	WTI US$	$69.03	$67.90
	WTI Cdn$	$87.61	$87.61
	Crude Differentials
	LSB Cdn$	-$7.80	-$7.80
	WCS Cdn$	-$24.78	-$24.78
	Yellow Wax US$	-$9.09	-$9.09
	Nat Gas
	AECO Daily Spot cdn$/mcf	$1.18	$1.18
	AECO Monthly Index cdn$/mcf	$1.02	$1.02
	NYMEX Nat gas US$/mmbtu	$2.80	$2.80
	Foreign Exchange
	Exchange Rate US$/Cdn$	0.775	0.775


Derivatives	Avg crude oil volumes hedged	68500	78835
	Crude oil realized G (L)	-$80,894,907.08	-$93,100,000.00
	per barrel	-$7.03	-$7.03
	Avg nat gas (GJ/d)	32000	32000
	Nat gas realized G (L)	$5,200,000.00	$5,200,000.00
	per mcf	$0.52	$0.52
	Avg barrel equivalent	83890	83890
	Total realized G (L)	-$75,694,907.08	-$87,900,000.00
	per boe	-$4.53	-$5.31

??	Unrealized deri gain loss	-$234,300,000.00	-$234,300,000.00
	Total Deri Gain Loss	-$309,994,907.08	-$322,200,000.00

Oil and Gas Sales	Crude Oil	$1,071,673,392.67	$1,010,604,769.72
	NGL	$57,813,477.12	$57,185,069.76
	Nat Gas	$16,410,794.40	$16,232,416.20
	Total	$1,145,897,664.19	$1,084,022,255.68

Royalties	Royalties %	14.27%	14.27%
	Royalties $	$163,519,596.68	$154,689,975.89
	Per Boe	$9.78	$9.35


Operating Expense	Operating Expense	$220,130,688.96	$217,700,000.00
	Per Boe	13.16	$13.16

Transportation Exp	Transportation Expense	$37,803,598.56	$37,400,000.00
	Per Boe	2.26	$2.26

Netback	Avg Selling Price	$68.88	$65.52
	Royalties	$9.78	$9.35
	Operating Expense	13.16	$13.16
	Transportation Expense	2.26	$2.26
	Operating Netback	$43.68	$40.75
	Realized gain loss	-$4.53	-$5.31
	Netback	$39.16	$35.44

Gross Cash Flow	Gross Cash Flow from Operations	$654,999,511.11	$586,367,121.87
	Gross cash flow per share	$1.19	$1.07

G&A	G&A expense	$50,000,000.00	$36,100,000.00
	G&A per Boe	$2.99	$2.18

Intrest Expense	Interest expense	$46,000,000.00	$47,600,000.00
	Interest expense per Boe	$2.75	$2.88

Foreign Exchange	FE expense	$1,700,000.00	$1,700,000.00
	FE expense per Boe	$0.10	$0.10

Share Comp	Share Comp expense	$21,000,000.00	$23,200,000.00
	Share Comp expense per Boe	$1.26	$1.40

Other Income	Other income expense	-$5,000,000.00	-$61,300,000.00
	Other Income expense per Boe	-$0.30	-$3.70

Depletion Expense	Deplete and Depreciation	$362,600,000.00	$362,600,000.00
	Amortization of exploration and eval undeveloped land	$39,500,000.00	$39,500,000.00
	Total depletion,depreciation, amortizatiion	$402,100,000.00	$402,100,000.00
	Total depletion,depreciation, amortizatiion per boe	$24.04	$24.30

Taxes	Current Tax Expense	$0.00	$0.00
	Deferred tax expense (recovery)	$50,000,000.00	$63,700,000.00

Consolidated Statement
Revenue	Oil and gas sales	$1,145,897,664.19	$1,084,022,255.68
	Purchased product sales	$2,600,000.00	$2,600,000.00
	Royalties	$163,519,596.68	$154,689,975.89
	Oil and gas revenue	$984,978,067.51	$931,932,279.79
	Derivative Gains losses	-$309,994,907.08	-$322,200,000.00
	Other Loss	-$5,000,000.00	-$61,300,000.00
	Total Revenue	$669,983,160.42	$548,432,279.79
Expenses	Operating	$220,130,688.96	$217,700,000.00
	Purchased Product	$2,200,000.00	$2,200,000.00
	Transportation	$37,803,598.56	$37,400,000.00
	G & A	$50,000,000.00	$36,100,000.00
	Interest on long term debt	$46,000,000.00	$47,600,000.00
	Foreign exchange gain loss	$1,700,000.00	$1,700,000.00
	Share Comp	$21,000,000.00	$23,200,000.00
	Depletion depreciation	$402,100,000.00	$402,100,000.00
	Accretion	$7,900,000.00	$7,900,000.00
	Total	$788,834,287.52	$775,900,000.00

	Net Income(loss) pre tax	-$118,851,127.10	-$227,467,720.21

	Tax expense (recovery)	$50,000,000.00	$63,700,000.00

	Net Income	-$68,851,127.10	-$163,767,720.21
	Share Count	549,000,000	549,000,000
	Net Income (Loss) per share	-$0.13	-$0.30

Adjusted	Unrealized Deri	$234,000,000.00	$234,000,000.00
		$165,148,872.90	$70,232,279.79
	Adjusted per share	$0.30	$0.13