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 > Increases Fourth Quarter Dividend & Preliminary 2022 Outlook

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Comment by Moemoney42on Sep 13, 2021 9:44am

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Post# 33847864

RE:Increases Fourth Quarter Dividend & Preliminary 2022 Outlook

Yup what have I been saying for months now... nailed it AGAIN..!!!! ;-)

Betteryear2 wrote:
CALGARY, AB, Sept. 13, 2021 /PRNewswire/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) and (NYSE: CPG) has approved an increase to the Company's quarterly dividend as a result of significant progress made on improving its balance sheet strength and sustainability. Crescent Point is also pleased to announce its preliminary 2022 budget, which is expected to generate significant excess cash flow that leads to additional balance sheet strength and the opportunity to create further shareholder value.

KEY HIGHLIGHTS

Accelerating shareholder returns by increasing quarterly dividend to $0.03 per share alongside continued net debt reduction.

Preliminary 2022 outlook for production of 131,000 - 135,000 boe/d and development capital expenditures of $825 - $900 million.

Expected excess cash flow generation of $625 - $875 million in 2022, after dividends, at US$65/bbl - US$75/bbl WTI.

On track to attain optimal leverage target in 2022, based on expected excess cash flow generation at current commodity prices.

"Our continued execution and capital discipline has positioned us to begin returning additional capital to shareholders," said Craig Bryksa, President and CEO of Crescent Point. "We are prioritizing debt reduction as part of our capital allocation framework including the establishment of a core dividend that is sustainable, provides flexibility and has the ability to grow over time. We are committed to a model that returns capital to shareholders while also generating returns through debt-adjusted per share growth."

https://www.prnewswire.com/news-releases/crescent-point-increases-fourth-quarter-dividend-and-announces-preliminary-2022-outlook-301374823.html