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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Comment by Moemoney42on Sep 03, 2021 10:46am

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Post# 33809048

RE:RE:RE:RE:RE:RE:RE:The amount

Absolutely, at these levels they are profitable.. with very little capex to maintain production as the facilities are already in place..

LiquidOctopusV2 wrote: I think Q2. There was about 1 sentence devoted to them in in the official Q2 report. With these levels, it's still money in the bank but they're higher cost wells. Whatever keeps the money shower coming.

Moemoney42 wrote: I think the shut down of some of those wells you are talking about were the conventional wells in Sask. that were uneconomic at those price levels.. but they were brought back online I think in Q2-21 but don't quote me.. it could have been Q1-21..??

LiquidOctopusV2 wrote: Not exactly. They shut down production of some higher cost wells during the downturn, which were re-activated last quarter. It won't be a huge shot in the arm. Not sure what impact this will have on the netbacks for next quarter but we will see increased production.

Marty57 wrote:
If I'm not mistaken, the Shell Duvernay assets have been on stream since before they were acquired. But these volumes only started to flow to CPG's account when the deal was closed (April 1 I think). So the production volumes we saw for Q2 were about what we can expect for the rest of the year, +/- the variances due to decline in old wells and production from wells newly brought on stream. I think this is the status of CPG production.