Veren Inc T.VRN

Re: rumoured asset sale

[soundandfury]

We all know that these sort of asset sales are done not only to get cash.......but to reduce asset retirement obligations.........the last one was a good example ......they almost give the production away for free and in return they also throw in hundreds on millions in asset retirement liabilities........the last sale to saturn eliminated 25% of cpg ARO.........i expect much the same sort of deal with these marketings..........not sure why they bother with this sort of thing except they get a cleaner balance sheet if some big company was looking to buy cpg.........must be horrible assets if they wanna get rid of them at these oil prices.....imo

[perstrudent]

could this be a sale of their east duverney lands and assets..wouldnt have much aro, but they dont even include it in presentations anymore...500 million be a good price for this

[JayBanks]

It sounds like the SW Saskatchewan assets 'Shaunavon’ as they say the assets are covered in both Saskatchewan and Alberta, or is a minor lands that we don't hear about often.. I can't easily find a breakdown on production per area, the 11,154 barrels kinda gives an idea, if someone has that info... it doesn't seem like much of our production and the non producing lands are a little

[LiquidOctopusV2]

Est. value $834 million - probably earmarked for capex.  Here is the link to the BNN article: https://www.bnnbloomberg.ca/crescent-point-energy-seeks-buyer-for-western-canadian-oil-assets-1.1719741