Bullboard - Stock Discussion Forum Surge Energy Inc (Alberta) T.SGY

Alternate Symbol(s): T.SGY.DB.B | ZPTAF

Energy Oil & Gas E&P

Surge Energy Inc. is a Canada-based oil focused exploration and production company. The Company’s business consists of the exploration, development and production of oil and gas from properties in western Canada. Its operations include Sparky and SE Saskatchewan. Its supporting assets include Valhalla, Greater Sawn and Shaunavon. The Sparky operation offers light/medium crude oil production... see more

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Surge Energy Inc (Alberta) > U.S. to Acquire 3 Million Barrels of Oil for Emergency Reser

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Post by Carjack on Mar 06, 2024 10:19pm

U.S. to Acquire 3 Million Barrels of Oil for Emergency Reser

(Reuters) — The U.S. is seeking to buy about 3 million barrels of oil for the Strategic Petroleum Reserve for delivery in September, the Energy Department said on Wednesday, as it slowly replenishes the emergency stash after selling a record amount in 2022.

President Joe Biden in 2022 ordered a sale of about 180 million barrels from the reserve to help calm oil prices after Russia's invasion of Ukraine.

So far, the U.S. has bought back nearly 26.3 million barrels at an average price of $76.47 a barrel, less than the average $95 per barrel price the oil was sold at, the department said.

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