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Energy Oil & Gas E&P

"Penn West Petroleum, based in Calgary, Alberta, is an independent Canadian energy company focused on the exploration and production of oil and natural gas resources in Saskatchewan, Alberta, and British Columbia. At the end of 2015, the company reported proven reserves before royalties of 208 million barrels of oil equivalent. Daily production averaged 86,000 barrels of oil equivalent in 2015,... see more

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PENN WEST PETROLEUM LTD. > Saudi Increase Oil Production To Store For Its Own Use

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Post by makedonka on Mar 14, 2017 3:58pm

Saudi Increase Oil Production To Store For Its Own Use

"Market panics over report that Saudi Arabia increased its oil production in February."

"In actuality, Saudi's reported increase was due to storage stockpiling as its crude inventory sits at five-year lows."

"We believe the oil sell-off we are currently seeing is temporary, and we look to take advantage of the sell-off to add to quality E&P positions."

https://seekingalpha.com/article/4055095-saudi-increase-oil-production-store-use-oil-markets-daily?app=1&isDirectRoadblock=false

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