Post by
Nystrom on Mar 08, 2021 8:37pm
Debt reduction
They wrote 75m reduction but the financial numbers showed only a 25m reduction of debt?
I am reading that wrong or what's with that?
Comment by
TickerTwit on Mar 08, 2021 10:41pm
The Cash Flow statement doesn't seem to show any payments on debt principal. Did anyone else spot them? Anywhere in the financial statements? .
Comment by
TickerTwit on Mar 08, 2021 11:16pm
Could VET have called the $75M interest expense a "debt reduction"? I don't see ANY debt reduction cash flow represented in the annual financial statements, but VET is claiming $75M + $175M. .
Comment by
Oldnagger on Mar 09, 2021 12:27am
The 75 million based on FFO less Capex reduced Long Term Debt. but the Net Debt as of year end was reduced by only 30 million due to an increase in working capital ( probably related to the higher inventory costs due to increased product prices , but there could be many other factors as well ). That is as deep as i have gone into the financial statements but others may wish to go deeper
Comment by
Nystrom on Mar 09, 2021 8:12am
I see 25M debt reduction from Q3 to Q4 in financials but thats it. I don't see 75M? VET allocated more FFO towards capex than Q3 which was a great move in hindsight as WTI prices have skyrocketed since.