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Veren Inc T.VRN

Alternate Symbol(s):  VRN

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

Bullboard Posts
Comment by oilnvstron Dec 04, 2012 2:39pm
295 Views
Post# 20682276

RE: RE: RE: RE: buying opportunity

RE: RE: RE: RE: buying opportunity

The Utah aquisition has everyone scared, because the price CPG will receive for their oil is so low. The Utah oil sells for WTI minus $15, while most of CPGs production sells for a just a few bucks off WTI. In addition, the limited amount of refining capacity in the area could put a cap on total production in the Uinta basin. CPG might be able to rail its crude to refiners outside the Salt Lake City, but that will take special tank cars and facilities and money. Expect funds flow to be lower than expected for a couple of quarters before the acquistion starts paying its way, and the the stock price recovers. Meanwhile the shorts will pile on. In my opinion, there's probably better places to put your money than CPG until next summer.

Bullboard Posts