Veren Inc T.VRN

Alternate Symbol(s): VRN

Energy Oil & Gas E&P

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.

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Veren Inc > A Sea of Red

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Comment by Grandcentralon Aug 19, 2021 5:12pm

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Post# 33734868

RE:A Sea of Red

This was a strategic undermining of the O and G sector, and we all could have seen it coming if we weren't so optimistic and calm because of the profitability right now.

What made the sector vulnerable...
•A lack of investors and support from new investors
•Summer lull and a compressed off season (summer was unusually good and the bears were waiting for the slightest negative news to pounce)
•Over-investment by those invested in O and G, with minimal cash support
•Investors with one foot out the door, as the sector lacks real confidence because of the constant political barrage
•Jitters and PTSD from March 2020 Covid market meltdown
This was an emotional sell off - the fundamentals across the sector are very good, and don't justify the ~25-30% loss in value in a couple weeks time (numbers show how irrational the sell off is).
It won't be long before we see a strong rebound.
The day we hear from the media that the 'fourth wave' is retreating, we will see a massive return to the sector - and hopefully a conservative government.
GLTA