Veren - June 2024 presentation

[Petroleum economist]

Veren (= CPG) placed a June 2024 presentation on their website.

The presentation contains numerous repeats from the Q1 presentation, but also provides some useful insights into their 5-year development plans over the period 2024-2028.Veren expects considerable growth in Alberta Montney and Kaybob Duvernay regions. Some highlights:
• Total production will grow from 195 K BoE/d (2024) to 250 K BoE/d (2028). The extra production comes mostly from developments in Alberta Montney and Kaybob Duvernay regions.
• Capex will remain steady at C$ 1.5 B/year.
• Cash flow will grow from C$ 2.4 B (2024) to C$ 2.8 B (2028) - WTI @ $ 75/bbl
• Debt will reduce from C$ 3.0 B (2024) to C$ 1.0 B ($ 2028) - WTI @ $ 75/bbl.
Overall, a good read.

Veren is a good share to own and justifiable sits in Dan’s sweet 16.