Veren Inc T.VRN

CPG acquisition pause?

[Zipolitemexico]

A couple of paragraphs from a CP article
....

On a conference call with analysts to discuss the company's first-quarter financial results Friday, CEO Craig Bryksa said the Calgary-based oil and gas company is happy with its current portfolio.

 

"We're going to take a good long pause as far as the acquisitions. We're happy with how things have come together here," Bryksa said.

 

"I wouldn't look for any near-term dispositions, further upstream dispositions, either."

RBC Capital Markets analyst Michael Harvey said in a note that while Crescent Point's quarterly results were better than expected, a higher valuation for the stock will depend on the company achieving "drama-free execution through 2024" as well as paying down debt.

[Anschutz]

LOL... until debt has been reduced by a couple billion and the new batch of investors believe a payday is in sight. Rinse and repeat.

[Lash99]

Oh cmon Anshutz , be nice. The loss is an accounting thing so we don't have to pay tax later. I know you know this. The company killed it ... again ! They have gotten rid of crappy assets ok it wasn't costing them anything so the real reason was to lower debt. Terrible just terrible that these guys are so frigging responsible that they are actually building a hell of a company.  Over

[Anschutz]

Hey Lash my tongue in cheek comment was in regard to the Bryska quote about acquisitions. I understand the financials.  Let's see if they really apply the proceeds to debt. Until it's reflected in the financials, I take anything they say with a large grain of salt.  As for being short, I'm not. I am only holding a few thousand shares in one account. Majority of my

[Moemoney42]

I agree Lash.. CPG/Veren has reformed the company into a organic growth model now with the impressive Duvernay/Montenay contiguous acreage they now own.. as well as infrastucture too boot to aid in expansion with the drill bit.. I'm looking at a clear ability to pay down that debt in a few years.. heck with this last disposition and the one before, along with FCF they're knocking off $900