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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 baranjaon Nov 02, 2024 1:56pm
165 Views
Post# 36293749

RE:RE:My 2 cents worth

RE:RE:My 2 cents worthTo be fair here, no matter how horrible this management is (and they are), this is waay oversold.  The only reason this crashed is because it lowered forecast from 192K-197K to 191K Bpde for the next year. Not a big deal, and by the way, all oil companies should cut their production due to those oil price attacks.
Are those oil companies supposed to increase production while oil prices are being crashed all the time? Those wells would be uneconomical anyway, and would probably cost more to operate it then to sell that oil..  Considering that 35% is nat gas there, it is only a percent of two of pure oil has been cut in forecast, How can that justify crash of 20% in two days??

I am also noticing Nat Gas companies are also cutting their Nat Gas production due to miserable nat gas prices too.

I wonder it Nutt was part of shorting this while pumping it for the public.





Citizen13 wrote: I understand your frustration .  I havent been in CPG/VRN for years .   Now, in retrospect had you not bailed at $ 3.85 you could have experienced $ 12.67 .  Not preaching , I bailed many times on things where I kicked myself as I would have gained all my money back and more . It's what I did with WCP.  * years of waiting , doubling down, tripling down until my average cost was less than what the stock was worth. The only saving grace was it was so bad I had nothing left to lose. These things are traders , not investments . I'm monitoring VRN now because it seems the pendulum has swung way too far on the bad side. I personally think all the capitulation will happen when end of tax loss selling is done mid December.



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