Bullboard - Stock Discussion Forum Nuvista Energy Ltd NUVSF

Primary Symbol: T.NVA

Energy Oil & Gas E&P

NuVista Energy Ltd. is an oil and natural gas company, which is engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Its primary focus is on the scalable and repeatable condensate rich Montney formation in the Alberta Deep Basin (Wapiti Montney). Its core operating areas of Wapiti and Pipestone in the... see more

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Nuvista Energy Ltd > U.S. Buys 2.73 Million Barrels of Oil for Strategic Petroleu

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Post by Carjack on Dec 04, 2023 12:01pm

U.S. Buys 2.73 Million Barrels of Oil for Strategic Petroleu

(Reuters) — The U.S. Energy Department said on Thursday it has finalized contracts to purchase 2.73 million barrels of oil for the Strategic Petroleum Reserve (SPR).

The U.S. has contracts to purchase 930 million barrels (MMbbl) from Exxon Mobil, 600 MMbbl from Phillips 66, 600 MMbbl from Sunoco and 600 MMbbl from Macquarie. The contracts total $215,929,510, according to a statement from the department.

The purchases are part of a plan to slowly replenish the SPR after a record drawdown last year to ease prices in the aftermath of Russia's invasion of Ukraine.