10 Firms Buck Market Bloodbath on Monday

2. Veren Inc. (NYSE:VRN)

Veren Inc. jumped by 16.09 percent on Monday to end at $5.7 apiece following news of a $10.43-billion merger deal with Whitecap Resources.

According to reports, the merger would mark the biggest deal in the Canadian oil and gas industry and will see the two firms become the largest landholders in the Montney and Duvernay regions in Alberta.

Additionally, the merger will see a combined capacity of 370,000 barrels of oil equivalent per day.

“We are more resilient and better able to manage the current macro environment, including the ongoing threat of tariffs and commodity price volatility,” Whitecap CEO Grant Fagerheim was quoted as saying in a report by Reuters. The transaction is expected to close in May 2025.