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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

Post by smallcaptdron Mar 29, 2023 3:21pm
348 Views
Post# 35367585

Oil has left its confidence at the door....

Oil has left its confidence at the door....Right from the start this morning I had that feeling that Risk-Appetite was full even though Oil prices were higher, that's why I posted my concerns earlier than the sell-off if it helped. Oil has had a great run from $64 to $74+ so it was just a matter of time before a limit was met. What sticks out the most today is that Oil is trading under yesterday's closing price before the market found out that a draw of -6Mil barrels were exposed so this draw had no real effect on the day's prices plus this just shows that the US being tight and with SPR around the corner this reading has been shrugged off and is no representation of global tightness yet. My question was answered Oil isn't hitting $75 today. Going forward the market will be looking for reasons on whether Oil should be lower or higher and right now the market still has a bad taste in its mouth about every aspect of the financial system's health more than that is the health of the US. We'll learn in the coming days if this sell-off is due to concerns or profit-taking as Risk-Appetite calms. Tread lightly....
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