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.

TSX:VRN - Post by User

Veren Inc > Duvernay Wells moves CPG to a new Evaluation

<< Previous

Bullboard Posts

Next >>

Comment by LiquidOctopusV2on Dec 07, 2021 4:09pm

258 Views

Post# 34207864

RE:RE:RE:Duvernay Wells moves CPG to a new Evaluation

The company is well managed. I smiled a bit when I read "lavish lifestyle". I suppose I'm having a hard time picturing Craig in green/grey golf shirt snorting cocaine off a hooker. The last several years have been tough all around. The math is all in our favour, the industry meta is in our favour.

Anschutz wrote:
It's simple... after 6 years of utter pain while management carried on with their lavish lifestyle...

CashHungry wrote: It is hard to over emphasize how transformative and brilliant the Duvernay acquisition was for CPG. Back in February the acquisition looked great, now eight months later it looks head-shakingly fantastic. I am not sure how the management haters on this board can reconcile their negative views in light of this deal.

Here's a recap:

They paid 900 million for assets that were already producing 30K BOE of high netback light oil.

The acquistion was immediately accretive with infrastructure already in place

Despite paying $700 in cash significantly lowered debt/CF

The entire cash portion of the acquisition will be paid off by YE '21

Long life asset with only a small fraction booked as 2P reserves

In '22 will increase production to 37K

Since acquisition reduced well costs by 15% offsetting inflationary increases across portfolio

More good news to come when IP30 results come in early '22.

Conservatively I would say the KD play is now worth over $2 Billion, which is over half of CPG's current market cap. That is incredible wealth creation in less than a year and management has my sincere appreciation.

MyHoneyPot wrote:
These wells and well pads they are drilling in the Duvernay, are going to knock the socks off investors. Shell has been working this play for years, and the Duvernay needs companies like CPG to come in an exploit the play.

All the majors previously in there are just to inefficient and CPG, is going to get a lot of excitement and awareness regarding the duverny.

When the results come out in 2022, they will be fantastic.

IMHO