Veren Inc T.VRN

My 2 cents worth

[cahclick]

First, this is just my opinion.
Second, I don't own any VRN.

Longs, do yourself a favour and read half a dozen 1/4'ly reports of ATH. This is a company that was at the precipice of death in early 2021. Note the theme of building shareholder value and the steps they've taken to get to where they are today.

I was in CPG from early 2017 until January 2021. The story was always the same. One more quarter and things will be great but they never took the action to get there. Every time they had a good week, they loaded on another load of debt. These managers may be skilled technically but have demonstrated no desire to build shareholder value.

I wallowed around in CPG for over 3 years, lost a ton of $, and finally took my lumps and bailed out in the 3rd week of January 2021 for $3.85 per share. I took the proceeds and bought ATH at 18.5 cents on the following day.

Skip forward from Jan '21 to today and here's where the rubber hits the road.
VRN(aka CPG) is up by a factor of 1.8x.
ATH is up by a factor of 27x.

I'm not suggesting you buy ATH but take a fresh look at what the management at VRN is doing. They have great assets but none of it ever seems to wind up in shareholders pockets.

Many, many, many oilies have outperformed VRN over the past 3 years.

Take a hard look !

glta

jmo

[Citizen13]

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

[baranja]

To 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

[Frank007]

The oil merket is totally manipulated ...lol ...even now the world uses over 103 milion barrels a day ...it's still crowing ..lol .not contracting .....the stinking yankies have figured out how to get.  Cheap oil .......Vrn will rebound ..........but you r right ever y e and p should cut production ...even join opec would work.    The yanks would just invade Canada ...lol

[baranja]

Yup,. just few years back,. Oil usage was bellow 100 Mbpd,. .now it is 103 Mbpd. what  the public didn't understand, during Covid shutdowns,.. oil consuption went only down  to 95 Mbpd per day, with all of those lockdowns and all. India consumption is growing big time. From 3.7 Mbpd to 5.5 Mbpd right now. in just 10 years. https://www.ceicdata.com/en/indicator/india/oil-consumption

[sebastian2]

Agree on that.  I would forget all this obsession with China.  India and to lesser extent Afrika (although this can be a surprise in 5-10 years IMO) will drive demand going forward.  everyone wants the "American Dream".   I remeber when I worked in China in 2000 and they all were building American style single family neighbourhoods but that just don't work

[baranja]

..yankies have figured out how to get.  Cheap oil... Bingo Franke!! Not too many people understand what is going on with oil, I thought, I was the only one in the world that see it.  I am glad I  am not. .....hence, a "climate change", let's all stop driving cars.

[sebastian2]

Exactly, totally agree.  In conf call they actually confirmed and RBC I think also metioned iht their revision Friday that reduction is 2K of oil.  That is just over 1% of total so the price drop is illogical.  I have gotten used to this type of pendulum swings.   But it is true that it does spook investment $$ and does take time to recover.   Thinking of

[baranja]

Make sense Citizen, It is very bad to take a big loss and sell it,.. but it is a catastrophy you sell it, take a loss, and the next week something major happens in the middle east, and this pops 20% back to where it was and goes even more.  The question is will this go down?  I think this is way oversold. Now when I compare it WCP,.  Thisone now has similar dividend, bigger