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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 Adonis1411on Jan 26, 2015 10:47am
271 Views
Post# 23363159

RE:So you think CPG is wonderful?

RE:So you think CPG is wonderful?
This is the same bunch of nonsense most oilfield service guys generally write. Most of those services guys in SE Saskatchewan built their business off of the back of Crescent Point, PBN, Cenovus, and the few others that still operate down there. They gouge for years and years and then complain when someone comes back and asks them to sharpen their pencil.

Cost of living be damned - would you rather take a cut to $30/hr or would you rather be laid off? Pretty simple decision and there is still money to be made by the Service Co as a result.

And anybody that owns a vac truck business and makes less than 10% profit margin in a 2014 environment isn't the brightest gent. Basic business sense would tell you that you're not generating enough cash flow to replace your rapidly depreciating asset base by the end of its useful life. So probably shouldn't be expanding by leaps and bounds (on the back of CPG).

Also interesting that one of his beefs is with 'demanding safety requirements'. Fully appreciate that safety isn't cheap, but its your own life (and those of your employees) that CPG is trying to protect.
Bullboard Posts