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.

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

<< Previous
Bullboard Posts
Next >>
Post by geezer21on Nov 03, 2021 8:15pm
226 Views
Post# 34084736

Outlook

Outlook
The EIA short outlook for 2021 estimated total world global production of 95.86 mb/d and global consumption of 92.42 mb/d. There is considerable amount of evidence now that estimates are off. 

China, India, and the U.S. are pulling oil out of strategic supplies. U.S. off-shore production had declined. Backers of U.S. shale producers want debit reduction and not rs take on debit to ramp up. Russia is having to keep more oil at home for domestic use. Russia due to underinvestment is unable to ramp up production. Equador's production is declining. OPEC+ has only been able to increase production to its goal of 400,000 b/d, Saudia Arabia's claim of excess capacity is questionable.  New production from Iran is unlikely. Consumption is climbing much faster than anticipated.  Gasoline stock are down and refineries will be ramping up after maintenance shut downs.  Winter is coming. 

Here are some readings on the situation:

https://www.eia.gov/outlooks/steo/report/global_oil.php

https://bisoninterests.com/content/f/the-myth-of-opec-spare-capacity

https://www.reuters.com/business/energy/us-oil-output-sinks-august-offshore-production-drops-eia-2021-10-29/
https://www.eia.gov/international/content/analysis/countries_long/Ecuador/Ecuador.pdf
<< Previous
Bullboard Posts
Next >>