Bullboard - Stock Discussion Forum Veren Inc T.VRN

Alternate Symbol(s): VRN

Energy Oil & Gas E&P

Veren Inc., formerly Crescent Point Energy Corp., is a Canada-based oil and gas exploration company. The Company is engaged in the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its crude oil and natural gas properties and related assets are located in the provinces of Saskatchewan, Alberta and the United States. Its operating areas... see more

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Veren Inc > Big Freeze Threatens Texas With Blackouts

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Post by Geologo on Feb 14, 2021 9:13pm

Big Freeze Threatens Texas With Blackouts

https://www.bloomberg.com/news/articles/2021-02-14/deep-freeze-sends-gas-soaring-to-600-over-the-long-u-s-weekend

About 800 daily records for cold temperatures have been set in the past week as Arctic air pushes all the way to the Gulf of Mexico, sending gyrations through energy markets.

Spot prices for electricity in Texas are expected to hit the grid’s cap of $9,000 per megawatt hour.

Natural gas rose to a record $600 per million British thermal units in Oklahoma.

And as much as half a million barrels a day of oil output in West Texas may be impacted by well shutdowns that began on Thursday because of the extreme cold.