Veren Announces Q3 2024 Results & Updated Outlook [Globe and Mail, The (Toronto, Canada)]
Veren Inc. Common shares (VRN)
Company Research
Source: Globe and Mail, The
results for the quarter ended September 30, 2024 , revised 2024 guidance, 2025 budget and updated five-year outlook. KEY HIGHLIGHTS Generated third quarter excess cash flow of $114 million , with full year 2024 excess cash flow expected to total $625 million Returned $290 million to shareholders in dividends and share repurchases year-to-date, including $85 million in third quarter. Entered into a strategic infrastructure transaction, directing $400 million of net cash proceeds to debt reduction. Expect year-end net debt of $2.5 billion , or 1.1x debt to funds flow, reflecting $1.3 billion of total debt reduction in 2024. Production results from Gold Creek West pad in the Alberta Montney rank in the top one percent of wells in North America Disciplined and returns-focused 2025 budget expected to generate excess cash flow of $575 million to $775 million "We continue to be excited about the quality of the resource and excess cash flow deliverability of our Kaybob Duverna
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VRN
News
- Veren Inc. (NYSE: VRN) had its price target lowered by analysts at Royal Bank of Canada from $12.00 to $10.00. They now have an "outperform" rating on the stock.MarketBeat
- Veren stock drops after lowering 2024 production goals [Wealth Professional (Canada)]Wealth Professional
- Veren reports $277.2-million third-quarter profit, trims 2024 production guidance [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Veren Announces Q3 2024 Results & Updated OutlookPR Newswire
- Veren Confirms Quarterly DividendPR Newswire
VRN
Earnings
- 10/31/24 - Beat
VRN
Sec Filings
- 11/13/24 - Form SC
- 10/31/24 - Form 6-K
- 10/31/24 - Form 6-K
- VRN's page on the SEC website