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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

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Post by smallcaptdron Jun 02, 2023 12:57pm
395 Views
Post# 35477194

Oil's shackles have finally been loosened up...

Oil's shackles have finally been loosened up...A perfect way to end this week with June so far welcoming a recovery for Oil prices. With this Debt Deal coming towards closure the market can now focus and act whenever a bullish contributor wants to run Oil higher as the US economy remains stealth and once China's economy levels out building from there will add to future demand. COVID caused a lot of the Inflation to happen well before Oil ever rallied higher because once COVID collapsed US manufacturing and the supply chain what product that was sitting in the warehouse instantly jumped in retail prices but as manufacturing and the supply chain started to expand through late 2021 the products continued to keep their inflated prices and once Energy cost rose Inflation skyrocketed so Oil has already given back too much its everything else that needs to adjust back to pre-COVID prices and we're still seeing manufacturing wanting to continue to grow and rebuild as further time is require rebuilding what was lost during COVID and we have proof of that with job openings and China is no different, they need to find labors and rebuild their manufacturing back to pre-COVID and it takes time with economies as large as the US and China are so demand will come with OPEC keeping their finger on the pulse so they will act when required to keeping Oil over $70+ targeting $85+ and if the FED ever decides what they're doing with Rate Hikes once that decision is made the market will deal with it but its the uncertainty that causes damage. They should put it at 5.50% - 5.75% and let it ride for 2-3 months letting it filter through before any further adjustments and we'll see lower 3% Inflation I'm very bullish for the months to come and Oil will push through. CPG, BTE, and ATH are about to bloom for the summer as this year flies by. Think bullish with time!
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