CVR Energy, Inc. (NYSE:CVI) Q3 2023 Earnings Call Transcript

Dave Lamp: Yeah. I think, I’ve always said that, continued growth in shale oil is important for the Brent TI to maintain its position in this range bound between $3 and $4.50 that we mentioned and it’s really to force the barrel offshore. It requires that kind of differential to make up for shipping and wherever the destination point is to be competitive in the world market. That’s what’s driving it to us. So as shale oil matures and continues to slowly grow, which is probably the best scenario, there’s still plenty of takeaway capacity. We think that bodes well for the Brent TI.

John Royall: Great. Thank you.

Dave Lamp: You’re welcome.

Operator: Thank you. We have reached the end of our question-and-answer session and now I’d like to turn the floor back over to management for closing comments.

Dave Lamp: Again, we’d like to thank you all for your interest in CVR Energy. Additionally, I’d like to thank our employees for their hard work and commitment towards safe, reliable and environmentally responsible operations. We look forward to reviewing our fourth quarter 2023 results during our next earnings call. Thank you.

Operator: This concludes today’s teleconference. You may now disconnect your lines at this time. Thank you for your participation.