RE:VET estimates more FCF >$500M 2021Almost $600M based on Slide 11, and that was at oil prices $15 lower than today.
Wait until lowball hedges in oil roll off in '22, to be replaced with hedges some $20+ higher per barrel, and $2+ per mmbtu higher for NA Natural gas.
Hedges cost VET $40M cash realized in Q2, which will likely be $60M cash in Q3, and could get to $100M realized in Q4.
At today's prices, VET would have FCF over $1Billion for '22.
Sound Crazy?
Peter's and Co estimated $900M, with prices $10 Lower than today
"Peters & Co. estimates as of September 27, 2021, using Peters & Co. 2022 base price deck: WTI US$70.97/bbl; Brent US$74.13/bbl; NYMEX US$4.37/mmbtu; AECO $4.27/mcf"