Veren Inc T.VRN

Top 5 Hammerhead Execs to get $70M

[Wuggy]

Whaaaaaaaa?

https://www.theglobeandmail.com/business/article-top-five-executives-at-hammerhead-energy-to-get-70-million-cash-payday/

[Anschutz]

It's a club and average shareholders aren't in it. While CPG shareholders watch their paper gain in shareprice for the year completely evaporate and any increase in dividends likely stalled until likely 2025 (due to need to pay down new debt), we learn that CPG paid a 40% premium for shares in Hammer Head that were listed publicly less than a year ago.  Wow. Simply Wow. "

[Moemoney42]

ACTUALLY... HHRS has not even been trading for 1 year yet.. the IPO ranged from ~$19 - $29.50 the first day of trading and closed at the low (give or take a few pennies) so using $19 as the market established IPO value the $21 take out price is only a ~10% premium..  Now it did trade down to ~$9 shortly after but at that point no one knew the real story behind their assets and CPG was still

[Anschutz]

Come on... IPOs are notorious for being over priced.  The real market value was likely closer to 10.  While there was a runup last spring in most E&Ps, why was there no corresponding sell off in September like CPG and others incurred?  Instead HH just kept flying higher.  From the chart it looks to me like either games were being played among investment firms to pump the

[Moemoney42]

You smell something fishy.. and I smell profits and a massive opportunity to capitalize on infrastucture and location of assets that fit like a glove to the existing CPG assets.. sure they may have paid a bit of a premium, but in CPG terms, these assets deserved a premium as they tuck in perfectly..  I'm looking further out than one quarter for the synergies to start to bear fruit, even