Veren Inc T.VRN

WCP acquires XTO energy Canada in all cash 1.9 billion C$

[ascii2]

https://finance.yahoo.com/news/1-exxon-imperial-sell-canada-215042282.html

I like the fact CPG  did not chase this and CPG shareholders will get rewarded for disciplined approch. CPG wanted only Duvernay shale oil and gas assets but XTO got higher price 1.48 Billion USD (1.9 Billion Canadian). They expected only 1 Billion in January. I won't be surprised if WCP shares get crushed tomorrow. Investors want their money now, They don't want company growing by buying assets in cash at higher price and taking on 1.9 Billion dollar debt. Grant has been holding dividend increase to spend money on aquisition. CPG has close to 1.6-1.9 Billion free cash flow now. They should increase dividend to 1 dollar a year or 25 cents a quater.IMHO

[barneyj44]

Ascil2 the world has changed since the $1 Billion price tag. With the Russian Invasion of Ukraine. Canadian Oil and Gas is going to be in the sweet spot. We just need some darn pipelines and Kitimat to get up and running. Cnq paid just under $1 Billion for Storm Resources so on the big scheme of things not a bad deal.

[barneyj44]

I hold equal weights of Cpg and Wcp. Both should do well.

[stocktalk]

With the current debt levels and wcp the purchase which would you pick ? Thks,

[TheBridge]

CPG has already gone through this kind of experience when Scott was the CEO and it has taken the current management to try and pay down the large debt that he accumulated. CPG has a great opportunity now to elimanate or significantly reduce their debt and reward the shareholders as we get closer to that point. Scott got a fantastic payout when he left, maybe the Fager thinks it's his turn.

[barneyj44]

Big Insider buying today by the men and women of Whitecap . Whitecap and Crescent Point have been on sale over the last few weeks. Sale prices won't be around forever. Happy Canada day.

[barneyj44]

Just saw your post now Stocktalk. I just bought more Wcp today, I guess I'm a suckered for punishment. As of now I hold more Whitecap as it will pay me to wait until this recession talk plays out. Hope Cpg has some goodies in there bag come quarterly report.

[ascii2]

The assets were valued at up to $1 billion in January and within 5 months they paid 1.9 Billion Canadian for it. Exxon and Imperial are laughing all the way to the bank. WCP had to pay the price by taking 1.9 billion loan in addition to existing 1.1 Billion loan. With interest rates going up it doesn't make sense. I understand CPG was interested only in Duvernay shale oil and gas assets as all

[bbwibone]

CPG probably down today because of the dumpster fire WCP CEO created. All these promises of FCF...well no FCF if we donate $2B to Exxon. Sorry try again next year.

[Al42]

yup...another sh#t show today...CPG down over 7% on no news and WCP down around 6%

[BigJoe778]

They may not have chased this one but I guarantee you they were looking at it and possibly even got outbid by WCP. Don't be surprised to see CPG aquire something with all that FCF.