pay attention to the cash flowIt's hard to project VET cash flow, but here's what we know. Their last presentation forecast a 2021 debt reduction of $350 million based on $60 WTI and gas prices TTF $7.54/mmbtu; AECO $2.87/mmbtu;
We have $70+ WTI and AECO is $3.13 and TTF is $12.077 (or higher depending on the settling date).
We've all focussed on the oil side of the leger because the data is easier to find, but they are raking in boatloads of cash with nat gas.
increase of $1 in Dutch gas = $28 million FCF.
So, we could be looking at $170 million (wti metrics) + $112 million (dutch gas) + the base $350 million, for an annual debt reduction in the neighbourhood of $632 milllion, ie 33% of the debt.
I would welcome a review by one of the old-timers here who knows these numbers better than me.