Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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
Post by Cardboard1on Sep 26, 2019 9:02am
238 Views
Post# 30166333

How stupid are they?

How stupid are they?
Really got to ask the question about these Saudis.

I mean they saw the reaction to the oil price after announcing a full restart by end of September. What was the point of saying, or even trying, to make it happen earlier?

Already the oil price had backed off significantly since the attacks and there is no supply disruption. They could sell inventories at higher pricing. They are basically shorting themselves out of business with government budget red ink as far as the eye can see.

Maybe it was to support the Aramco IPO or highlight resiliency? Even then, what is the value of trying to IPO 5% of something that will never reach the dreamland valuation that they talked about, reduce revenues by 5% and make zero difference in their mid to long term fate?

$58 WTI and $64 Brent was about the best outcome for them or allowing U.S. shale to continue its slowdown or at least stop growth. Now by doing what they are doing, they are giving the ammo to short traders to bring Brent once again below $60. Nuts!
Bullboard Posts