Veren (TSE:VRN) has released an update.
Veren Inc. has partnered with Pembina Gas Infrastructure in a $400 million deal involving infrastructure assets in Alberta Montney, which is projected to reduce the company’s debt by $1.3 billion in 2024. The strategic move grants Veren operatorship over additional sites, firm processing capacity, and priority access, as well as the option for future infrastructure development funded by PGI. This transaction, poised to close in Q4 2024, aligns with Veren’s goals of operational efficiency and balance sheet improvement.
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