CALGARY, AB, Oct. 31, 2024 /CNW/ - Veren Inc. ("Veren" or the "Company") (TSX: VRN) (NYSE: VRN) is pleased to announce its operating and financial 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.The information provided here is not subject to any editorial processing. It is prepared fully automatically and enriched with additional information and further research options. The aim of the content is to provide information seekers with the relevant information quickly and easily. A link back to the information provider and owner ensures that the data prepared here can be compared with the source information if required. The newsboard does not show information in real time. Please contact the exchange operator for this information if required. There is no claim to completeness. High availability cannot be guaranteed. If you notice any errors in the functionality, please let us know using the "Report a Bug" form below.
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