RE:Patience is Golden, Time is Precious Yes, debt will be reduced to $1.3B by end of 2024. Just in time for Bryska and crew to blow their brains out with another purchase, mint another 100 million shares, and add another 2 or 3B in debt. Stakeholders and shareholders will be asked to be patient for only a few years more.
This crew has tried to fool the market too many times. The name change hasn't helped. Nobody on the street believes this company. All street cred acrued since Bryska took the helm has been lost.
TheBridge wrote: The share price has disappointed many, particularly those comparing it to that of WCP. However, just a reminder, Veren continues with its return of 60% of excess cash flow to shareholders through the base dividend and share repurchases. The balance of Veren's excess cash flow continues to be directed to debt reduction which they have calculated to reach 1.1 times adjusted funds flow. With the infrastructure deal with PGI, Veren will receive net cash proceeds of $400m in Q4 which they have confirmed will be directed towards further debt reduction resulting in total debt of $1.3b at the end of 2024. For those who continue to hold it should mean an increase in dividend tin 2025 and a reasonble upward move for the share price. This takes time and it has already taken a lot of time just to get where we are today. Some will wait it out, some will leave......nice to have the freedom of choice.