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Zargon Oil & Gas Ltd is a producer of oil and gas. It is engaged in the exploration, development, and production of oil and natural gas in Canada and the United States. The company works on three phases of oil reservoir exploitation which include Primary recovery, Waterflood recovery, and Tertiary recovery. Its portfolio includes Alberta plains north, Alberta plains south and Williston basin... see more

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Zargon Oil & Gas Ltd > WCS discount to narrow due to Syncrude outage

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Post by stockfy on Jun 23, 2018 3:35am

WCS discount to narrow due to Syncrude outage

Great news for ZAR. The outage will last for at least 1 month and will not be fixed before August 2018. See the link with this excerpt from Reuters:

"The site can produce up to 360,000 barrels per day, upgrading thick bitumen to light oil. With that production offline, space should open up for Western Canada’s oil in limited pipeline capacity, said Phil Skolnick, analyst at Eight Capital. That relief is likely to reduce the discount that Canada’s heavy crude trades at compared to U.S. light oil futures, Skolnick said in a note."

https://ca.reuters.com/article/businessNews/idCAKBN1JI2S1-OCABS

https://www.mymcmurray.com/2018/06/21/power-outage-affecting-production-syncrude/

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