Veren Inc T.VRN

“D” day coming

[Gassy166]

Things look like they have really turned around for cpg...it's amazing the decline rate has dropped from 32% to 25% in the last two years. Those water floods are a thing of beauty! Bank debt down to under $500 million. At $58 oil our fcf is over $500 million this will cover the 185 million senior notes due this year as well as trim bank debt further. If they slip fcf from one of those 58 dollars back to shareholders that's a .06 divvy! D day is coming. D day is coming.
sorry for the bright and cheery drinking the kook aid kind of post, hope is doesn't get me banned.

[Bpultra]

============= hmmmmmm... put your application in for HEAD CPG PR GUY ... because this would be a great little NR.. but nope.... pretty sure everyone took an early weekend break.. packed up and they are all sking .. check the check-ins ....???  

[Backinblack1000]

This post has been removed in accordance with Community Policy

[TheBridge]

Gassy, I'm a cpg long and like hearing positive developments for the company but..........your post stated that CPG debt is under $500 million..........that's a huge error, CPG's debt is at least 3 times that. Their debt on Sept. 30, 2020 was $2.2 billion after having paid down $575 million during the year. They have been able to reduce debt by cutting the dividend and reducing capex

[Skidbro]

Great insight. I think the debt has been paid down enough from around 5 B a few years ago. Share buybacks should be the priority to drive the company value up as we are knee-deep in mergers and acquisitions in the oil and gas sector.

[Gassy166]

Hi Bridge, I think if you reread post I said bank debt which sits at $480 million ...the rest is senior notes. Cheers

[wentbrokefromcp]

Why is a takeover bad?

[Skidbro]

Who said they were bad? I just want management to use the FCF to maximize the buyout price for our currently held shares in the increasingly likely scenario of a buyout.

[wentbrokefromcp]

I'm not sure who it was but they said hopefully there isn't a takeover.... I always thought takeovers were good?

[Skidbro]

Takeovers aren't always good. Small and Medium caps move a lot more with the commodity cycle, so if a large cap (like Suncore) buys a small-cap (like CPG) then shareholders will miss the big run up in value that would have happened to CPG shares in a rising oil price environment.