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

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Post by smallcaptdron Feb 14, 2023 10:36am

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Post# 35285112

How will the rest of the week go...

So far this week has been Red and we still have API Oil Stock tonight and tomorrow US Retail Sales and EIA then Thur Building Permits and PPI MoM so if these additional releases cause Oil to trade lower the Head and Shoulder pattern will become more obvious but this is just a scenario and is NOT guaranteed. The bottom link will bring up the 1yr Oil Chart where the pattern is visible but if this does continue then expect a downside..

The head and shoulders pattern tries to predict a bull to bear market reversal. Characterised by a large peak with two smaller peaks either side, all three levels fall back to the same support level. The trend is then likely to breakout in a downward motion.