Nexera Provides Update on Oil Production Storage Plans
05.11.2020 By Greta Talmaci - NEWS

May 11, 2020 [Yahoo Finance] – Nexera Energy Inc. provided the following update on the Company’s production plans during current commodity pricing conditions. The Company has added additional storage tanks on certain leases and, on most leases, the Company has the ability to continue to produce and store oil for up to six months without having to shut wells in.

Additionally, the Company has the resources in place to efficiently maintain operations, even in the unlikely scenario that the Company does not sell any oil in a given month.

Shelby Beattie, President and CEO of Nexera commented: “We are fortunate to have the flexibility and sustainability to maintain operations during these unprecedented times. In addition to acquiring additional tanks, we are also in the unique position of owning our own tank hauling equipment which allows us to move tanks from lease to lease as needed, at no cost. We are confident that we will see better commodity pricing in the coming months which we will take advantage of as we continue to produce and store our oil until that time.”

————-

Click Here to Access Today a 4,900 Tank Terminal Database With a Pro Trial
Click on the button and register to get instant access to actionable tank storage industry data

Egypt in Talks with Foreign Companies Over Long-Term LNG Purchases, Sources Say
11.21.2024 - NEWS
November 21, 2024 [Reuters]- Egypt is in talks with U.S. and other foreign companies to purchase ... Read More
INEOS and GNFC Sign a Memorandum of Understanding to Build a New World Scale Acetic Acid Unit in India
11.21.2024 - NEWS
November 21, 2024 [INEOS]- INEOS Acetyls and Gujarat Narmada Valley Fertilizers & Chemicals L... Read More
Peru's State Oil Firm Could Open to Private Investors in 2025, Chairman says
11.21.2024 - NEWS
November 21, 2024 [Reuters]- Peru’s indebted state-run oil firmĀ could consider offering a ... Read More
China Crude Oil Imports Set for November Rebound, But It's Price not Demand
11.21.2024 - NEWS
November 21, 2024 [Reuters]- China’s crude imports are on track to rebound in November to t... Read More