Veren Inc T.VRN

Alternate Symbol(s): VRN

Energy Oil & Gas E&P

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.

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Veren Inc

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Comment by Takeactionnowon May 07, 2020 4:40pm

249 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 .....