Post by
Moemoney42 on Jan 10, 2025 10:12am
Veren
Most active on the TSX this AM.. good move up to close that gap.. if the markets weren't in a sell off we would have closed that gap to $8.30 ish as I predicted.. but hey.. the day is still young..! ;-)
Comment by
Seppelt on Jan 10, 2025 10:36am
WTI is currently up about $3 trading close to $77. Veren's 2025 guidance is based on $70. Assuming it doesn't fall below $75, at least in the short run, the company will generate a lot more excess cash flow than forecast. Proceeds used for more buybacks and debt reduction.
Comment by
Moemoney42 on Jan 10, 2025 11:23am
As noted that spike to $77+ was short lived but stabilization between $75 & $76 would be great for the patch and the economy going forward.. Even better would be a stable $80 WTI price give or take a couple bucks.. maybe these new sanctions will take us there.? "Oil prices jump as U.S. emposes sweeping sanctions against Russia Oil industry"
Comment by
Moemoney42 on Jan 10, 2025 11:26am
“The Biden administration opted for more robust energy sanctions, which caught the oil market especially complacent about sanctions risks,” said Bob McNally, president of Rapidan Energy Group. “Therefore, we expect today’s material risk premium in Brent to stick pending signals from the Trump team as to whether they will continue these sanctions,” McNally said.