TORC Oil & Gas Ltd. VREYD

Energy Oil & Gas E&P

TORC Oil & Gas Ltd engages in the exploration, development, and production of oil and natural gas reserves in the southeast Saskatchewan area. Crude oil constitutes an overwhelming majority of the production mix the company gathers from its assets. TORC gains access to its assets through government issued royalties and uses various techniques to identify hydrocarbon reservoirs. The company focuses heavily on light oil resource plays and relies on a three-phased strategy of resource capture, delineation, and production growth.

OTCPK:VREYD - Post by User

TORC Oil & Gas Ltd.

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Post by Duster340on Oct 01, 2020 9:52am

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Post# 31648103

Higher Oil Price's Q3

(Reuters) - Exxon Mobil Corp (N:XOM) said on Thursday its third-quarter results would be buoyed by higher prices for crude oil after a historic collapse in the previous quarter as coronavirus-related lockdowns caused a dramatic plunge in demand.

Higher oil prices will help exploration and production earnings by $1.4 billion to $1.8 billion, compared with the second quarter, it said in a filing. However, weak gas prices will continue to weigh on the segment and could hurt earnings by as much as $500 million.

Lower demand for fuels would hurt refining margins by $200 million to $600 million, the company said.

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