Ay $60 WTI Oil, VET produces $400M Free Cash Flow (FCF) On slide 10 of 45 of the VET presentation (located on its website), at $60 WTI oil, VET is forecasted to produce $700 of Free Cash Flow of which $300M is allocated to Cap Ex for 2021.
That leaves $400M Free Cash Flow to be allocated to VET's Debt of $2.1 B.
Bringing down debt by $400M or more will make a huge dent in VET's debt and gives VET the flexibility to reinstate dividends which VET mgmt has repeatedly stated it would do.
That's assuming $60 WTI oil holds for the rest of the year of if VET hedges at these levels. Also, nat gas pricing is also favorable to VET.
All in all, VET looks to be in a healthy good position in that it can organically fund its Cap Ex and also bring its debt down to reasonable levels.
Who knows, VET could be acquriing assets or companies in the mean time.