.png)
Cenovus SAGD Operation The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened again on Monday: * WCS for December delivery in Hardisty, Alberta, settled at $28.00 a barrel under WTI, according to CalRock, weakening from $27.85 a barrel under WTI on Friday. * The discount on heavy Canadian crude has been steadily deepening in recent weeks due to overlapping refinery turnarounds that have reduced oil demand, and concerns the 590,000 barrel-per-day Trans Mountain pipeline expansion will be delayed beyond the first quarter of 2024. * Crescent Point Energy said it would acquire Hammerhead Energy in a cash and stock deal valued at C$2.55 billion ($1.86 billion) to boost its presence in Alberta’s Montney play. * Benchmark oil prices edged higher after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. * The outright price of WCS was just under $53 a barrel. (Reporting by Nia Williams in British Columbia; Editing by Krishna Chandra Eluri)
CamTrader offers a preview only. View original article. boereport.com
