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Veren Inc T.CPG


Primary Symbol: T.VRN Alternate Symbol(s):  VRN

Veren Inc., formerly Crescent Point Energy Corp., is a Canada-based oil and gas exploration company. The Company is engaged in the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its crude oil and natural gas properties and related assets are located in the provinces of Saskatchewan, Alberta and the United States. Its operating areas include Viewfield area of southeastern Saskatchewan; Shaunavon resource play, which is located in southwest Saskatchewan; Flat Lake play, which is a multi-zone resource play located in southeast Saskatchewan; Kaybob Duvernay play, which is situated in the heart of the condensate rich fairway, Central Alberta, and Montney assets in Alberta. Its wholly owned subsidiaries include Crescent Point Resources Partnership, Crescent Point Holdings Ltd. and Crescent Point U.S. Holdings Corp.


TSX:VRN - Post by User

Bullboard Posts
Post by jwallingfon Mar 18, 2019 3:00pm
111 Views
Post# 29501996

IEA Outlook for 2019

IEA Outlook for 2019 "On the basis of solid oil demand growth, modest declines in OPEC production due to Iran and Venezuela, and rising US output, the market could show a modest surplus in 1Q19, before flipping into deficit in 2Q19 by about 0.5 mb/d. This does not take into account Saudi Arabia's announced plans to reduce its exports further in April" (source: IEA Oil Market Report March 15). 
This adds to the bullish picture for oil. Factors that could rain on this sunny outlook: no trade deal with China, US shale production increases, a demand forecast that falls short due to slowing global growth. 
Oil prices are notoriously hard to predict but, given the solid demand growth this year, the discipline of OPEC+ and shrinking supply from Iran and Venezuela, WTI looks set to stay in its current range of $50-$60 as a base case. A rise above $60 will probably be seen the Spring but I doubt whether oil stocks will be "party on". They need to see higher oil prices over a long time in order to believe that good times have returned. 
Bullboard Posts