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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 Moemoney42on Aug 15, 2023 6:31pm
160 Views
Post# 35590016

RE:Woof woof moe

RE:Woof woof moe
soundandfury wrote: You need a shock collar and stop shi ttin on the lawn..........20,000 bpd production is currently fetching 500 million +.............so they basically trew 480+ million away..........480 million would likel pay reclamation costs of every well cpg ever drilled.......woof woof

Yup there you go again with BS and name calling.. what a joke you are..! 20,000 barrels you say... they only got $20 million you say.. 

The deal that closed in June 2021 is right here from their website, and assets like those were not fetching your pie in the sky values..  show me any transaction that is trading for 25,000/flowing brl..

Like I said if you're going to BS then expect to get called out on it.. mike drop..!!!


Quote from the company..


CALGARY, ABJune 7, 2021 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) and (NYSE: CPG) has completed the disposition of its remaining non-core southeast Saskatchewan conventional assets ("Assets"), which were previously identified as disposition candidates, for cash proceeds of $93 million ("Transaction"). As a result of the Transaction, Crescent Point also reduced asset retirement obligations ("ARO") by approximately $220 million, or nearly 25 percent of its ARO balance as at March 31, 2021. Proceeds from the disposition have been directed to the Company's balance sheet.

Crescent Point considered the Assets to be non-core due to the significant associated ARO, operating expenses that were substantially higher than the corporate average and limited scalability. The Assets also generated minimal free cash flow, after incorporating development capital required to sustain production and reclamation activities, despite contributing annual net operating income of approximately $55 million based on current production of approximately 6,500 boe/d and US$60/bbl WTI.  

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