Veren Inc T.VRN

Alternate Symbol(s): VRN

Energy Oil & Gas E&P

Veren Inc. is a Canada-based oil producer with assets in central Alberta and southeast and southwest Saskatchewan. The principal activities of the Company are acquiring, developing and holding interests in petroleum and natural gas properties and assets related thereto through a general partnership and wholly owned subsidiaries. Its core operational areas include Kaybob Duvernay and Alberta Montney, Shaunavon and Viewfield Bakken. Its Kaybob Duvernay is situated in the heart of the condensate rich fairway, Central Alberta, which provides low risk drilling inventory. Its Alberta Montney assets sit adjacent to its Kaybob Duvernay lands, possessing similar resource characteristics including pay thickness and permeability in the volatile oil fairway of the reservoir. Its Shaunavon resource play is located in southwest Saskatchewan. The Viewfield Bakken light oil pool is located in Saskatchewan.

TSX:VRN - Post by User

Veren Inc

Bullboard Posts

Comment by Takeactionnowon May 07, 2020 4:40pm

251 Views

Post# 31000066

RE:RE:stupid

To make things easier, here is a direct quote from the company's press release:

Due to a significant decrease in the independent engineers' price forecast resulting from current concerns over global demand and supply for oil, Crescent Point incurred a non-cash impairment charge of $3.56 billion ($2.65 billion after-tax), driving a net loss of $2.32 billion for the quarter ended March 31, 2020. This impairment charge does not impact the Company's adjusted funds flow or its credit capacity, and is reversible in future periods should there be indications of change in value, including higher forecast commodity prices.

Takeactionnow wrote: Frank, look back at earlier posts, which addressed this. Better yet, reread the financials carefully.

Frank007 wrote: 2.32 billion loss not for the year but for the quarter ,,,,just how do you think this one can be bailed out ....yike s is all i can say .....