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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 Jan 05, 2024 11:14am
185 Views
Post# 35812435

RE:RE:RE:A touch of a disconnect

RE:RE:RE:A touch of a disconnect
What you are probably seeing is a huge drop off in activity over Christmas.  No need for alarm.  This is the normal annual pattern for Canadian drilling activity.  Practically every year drilling craters over Christmas and in the New Year it quickly picks up to annual highs in January, February and March.  In April Canadian drilling activity craters dramatically again due to spring break up.  Spring break up lasts maybe a month and then drilling activity gradually recovers over the rest of the year until it craters again at Christmas.  It all has to do with seasonal weather pattern and company budgets.  When the ground thaws in the spring activity dries up as it is hard to move heavy equipment and trucks over muddy terrain and roads. Most companies structure their budgets to be most active in the winter time when the ground is frozen and road bans are not an issue.
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