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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 packerdriveron May 25, 2024 11:24am
123 Views
Post# 36057272

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:nat gas news....

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:nat gas news....OMG ! You want Trudeau to build you another pipeline??? That ain't going to happen! How many pipelines did Harper build in his 9 years??? Heck, how many pipelines were built by anybody under Harper's watch??? ZERO!

Multinational oil companies (and a national like Irving) buy crude oil from wherever for their refineries given quality/grade, availability and price considerations. (Trudeau does not buy a single barrel of oil)

In 2022 Canada imported 82,000 barrels a day from Saudi Arabia and 41,000 barrels a day from West Africa. Alberta produces almost 4 MILLLION barrels a day!!! Waterborne imports of crude on the east coast are nothing more than a rounding error given the total numbers. Canada also imports 342,000 barrels a day from the US but there is no way of knowing how many of those are Canadian barrels that were simply routed through the US midwest pipeline system and dellivered back to Canada and its refineries.

Canada oil imports 2022.... 1 metric ton = 7.46 barrels of oil
https://www.statista.com/statistics/566837/crude-oil-imports-to-canada-by-region-of-origin/


As much as you might wish it, Alberta bitumen, shipped 4-5 thousand miles over/under ground will NEVER fetch the same price as Saudi Arabia light sweet crude sitting in the harbour in a tanker (by far the cheapest way to move crude oil). Quality/grade and shipping costs dictate the price in the free market.

A barrel of Saudi light sweet crude costs 6 dollars a barrel to produce. A barrel of oil sands crude costs 28 to 38 dollars a barrel to produce according to Suncor. CNQ does better at 22 dollars a barrel.
https://www.reuters.com/business/energy/canadas-suncor-looks-cut-high-oil-sands-mine-operating-costs-2024-02-22/

I post links to what I say....all you do is repeat tired, old Alberta "urban legends" that are easily debunked.

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