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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Post by dogatcaton Nov 24, 2023 5:44pm

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Post# 35752290

RBC's take on the acquisition

Tuesday, November 21, 2023, 10:54 AM ET

1054 ET - Crescent Point Energy's acquisition of Hammerhead Energy builds scale and adds new targets that can be developed and added to its portfolio, Michael Harvey of RBC says in a report. The analyst notes that Hammerhead features 25-30 wells per year, or C$400 million in annual investment and that Crescent Point plans to grow production to 80,000 barrels of oil equivalent a day by 2026. "The transaction vaults the company into a top-seven Montney player in Western Canada," Harvey says, noting that given Crescent Point's discounted valuation with respect to peers, the acquisition should help drive a more visible path to an expanded trading multiple. (adriano.marchese@wsj.com)

(END) Dow Jones Newswires

November 21, 2023 10:54 ET (15:54 GMT)
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