Veren Inc. drills for and sells oil and natural gas across Canada and the U.S., like a modern-day prospector with a diversified land portfolio.
Revenue comes from selling crude oil, natural gas liquids, and natural gas. In 2024, it earned CAD 4.41B in revenue with a 56.44% gross margin, though net margin was thin at 6.19%.
Veren's moat is weak because oil and gas are commodities, and competitors like Canadian Natural Resources and EOG Resources can easily replicate its drilling operations.
