Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Veren Inc T.VRN

Alternate Symbol(s):  VRN

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

Comment by Marty57on May 13, 2021 11:30am
164 Views
Post# 33191759

RE:So Much For CPG.................POS

RE:So Much For CPG.................POS
New management might have a positive impact on share price, but I think it would all be window dressing.  What would new leadership actually do that would be different from what we have now?  Maybe raise the dividend to a meaningful level... that would be good.  Maybe crack the whip with more austerity for CPG staff-- that probably wouldn't have any meaningful impact on company performance at all.  Maybe change strategy on hedging... that could be good or bad-- Hedging saved the company a lot of grief in 2020. 
But, as far as running the business (capital expenditures, running operations, generating revenue), the current management have clearly stated what they will do.  Run the business prudently with hedging and limited Capex, maintain production and reduce corporate decline rate, pay down debt, execute a small NCIB program in 2021.  And when debt is reduced to a more comfortable level, start paying a meaningful base dividend to shareholders.  That is what they say they are going to do and it appears they are doing it.  As a shareholder, the lack of meaningful dividend is very painful (especially when it seems they could start paying one).  But it looks like we will have to suck it up and deal with it for some months yet.  On the bright side, you can see how oil price has recovered from the 2020 debacle and how it could recover a lot more... just look at FCF estimates for 2021 and 2022 in the May presentation. Some of that money will eventually make its way into shareholders pockets.
<< Previous
Bullboard Posts
Next >>