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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

Comment by Marty57on Sep 27, 2022 10:17am
213 Views
Post# 34989154

RE:RE:RE:RE:Hedges

RE:RE:RE:RE:Hedges
Filefish, I have to disagree with you on hedging for 2023.  My hope is that CPG does not increase their hedged volume next year.  And especially do not enter into hedges now that prices have spiked downwards.  The supply demand situation for oil is such that oil prices will likely be very strong in 2023.  IMO it is better to take your chances with market price for the great majority of oil production in the coming years, rather than hedge like they did in 2022.  I am not complaining, because I know they had reason to hedge in 2022, and at the time the hedges were made they probably looked pretty good.  But the dollars left on the table due to this years hedging policy are eye popping.  20% hedge volume in 2023 is OK-- they have 20% hedged at very good prices and that will guarantee a cash flow that will probably keep the company in good shape no matter what happens with the market.  For the remaining production, please take the market price and I think we will be glad they did.  Having said that, oil price is obviously volatile and hard to predict.
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