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April 26, 2025

Veren plug-n'-perf declines considerably lower than NCS fracs, EUR estimates now tracking in-line with NCS wells at Gold Creek

Recall, during our Veren post-mortem presentation, we discussed key markers we'd be watching to confirm the success (or failure) of Veren's general development plan. One of those key markers was oil production per acre at Gold Creek. With another month of data, the 10-14 pad which was drilled in a single-bench configuration has now produced ~520Bbls per acre, compared to the offsetting Hammerhead 04-14 pad which was drilled in a two-bench configuration and has produced just ~300Bbls per acre after after 10 months on-stream. This is a positive data point, and incremental confirmation of our asset quality thesis.