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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 dalerules88on Dec 08, 2017 8:15pm
128 Views
Post# 27121951

RE:Something to remember heading into Q4 results

RE:Something to remember heading into Q4 resultsAt 258 mil, this could also possibly related to reserves revaluation - I'm not up on reserves accounting but aren't the reserves periodically adjusted based on trailing avg. commodity pricing? The reserve accounting seems to be a bone of contention here (O&G) as well as metals - commodity prices drop, forcing reserves revaluation, then commodity price increases and there is a lag for the reserves to be revalued back up - I'm guessing this would be at a mimimum a quarter lag and possibly much longer - the writedown could well be a result of oil prices being depressed as far back as year earlier, but like it says, eventually we'll get this "money" back, and it will (hopefuly) make the good looking future numbers look even better...

disclosure: long CPG, long sector

Bullboard Posts