Veren Inc. (VRN) stock soared 5.19% in the pre-market trading session on Thursday, after the Canadian oil and gas company reported better-than-expected fourth quarter and full-year 2024 results.
The company reported adjusted earnings of CAD 0.40 per share for the fourth quarter, beating the consensus estimate of CAD 0.55. However, its oil and gas sales of CAD 1.03 billion for the quarter also exceeded analysts' expectations of CAD 1.11 billion.
Veren's strong performance was driven by its focus on developing high-quality assets, particularly in the Alberta Montney and Kaybob Duvernay regions. The company achieved record production levels, with its key assets contributing 77% of total production in the fourth quarter. Additionally, Veren's efforts to optimize infrastructure and completions designs in these regions have led to significant operational efficiencies and cost savings.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。