Veren Sees FY24 Production Of 191,000 boe/d (65% oil and liquids)
Portfolio Pulse from Benzinga Newsdesk
Veren has updated its 2024 guidance, expecting an average production of 191,000 boe/d with 65% oil and liquids. The company plans $1.45-$1.50 billion in capital expenditures, focusing on Alberta Montney. It anticipates $625 million in excess cash flow and a net debt reduction to $2.5 billion. For 2025, Veren projects production of 188,000-196,000 boe/d, with a capital budget of $1.48-$1.58 billion, and plans to return 60% of excess cash flow to shareholders.
October 31, 2024 | 10:37 am
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Veren's updated guidance for 2024 and 2025 indicates strong production and financial performance, with significant capital expenditures focused on high-return projects. The company plans to reduce debt and return a substantial portion of excess cash flow to shareholders.
Veren's guidance shows a positive outlook with increased production and financial metrics. The focus on high-return projects and debt reduction, along with shareholder returns, suggests a likely positive impact on stock prices.
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