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Veren Inc 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 CdnOilObserveron Mar 12, 2019 2:57pm
75 Views
Post# 29474765

Under Water and Under Pressure

Under Water and Under PressureBeing de-indexed will create selling pressure for at least the remainder of the month as institutional money, funds, and pensions exit CPG from their portfolios.  It will be unlikey that CPG stock price will stay about CAD$4.00 for any length of time, at least in the short term.  The technicals are very ugly.  The company is making efforts to clean up it's business, but you can call this "too little too late" as we head into a bear market for Canadian mid-cap energy companies.  It is imperative the Company reduce costs, in particular head office white collar related costs, limit bonues - or at least have a CAD$5.00/share high water mark, before cash bonuses are paid.  The other major head winds this company will face is: 1) the Trudeau anti-West or anti-energy policies, 2) produce at-any-price US frackers; and 3) perception of world-wide drop in energy demand in the face of global economic slow-downs.  Pay attention to what happens in China.  It is imperative at this point that the executive managers put on their best suits and grovel for time on BNN to plead their case to retail investors as in the end, it will be this class of investors who prop up the share price.  The sound of silence can be deafening!
Bullboard Posts