Baytex Energy Corp T.BTE

Alternate Symbol(s): BTE

Energy Oil & Gas E&P

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay / Viking) and Heavy Oil Canada (Peace River / Peavine / Lloydminster). Its Eagle Ford assets are located in the core of the liquids-rich Eagle Ford shale in South Texas. The Eagle Ford shale covers approximately 162,000 net acres of crude oil operations. Its Viking assets are located in the Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta. It also holds 100% working interest land position in the East Duvernay resource play in central Alberta.

TSX:BTE - Post by User

Baytex Energy Corp

Bullboard Posts

Comment by BullishBaytixon Apr 14, 2016 7:34am

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Post# 24765277

RE:RE:Problem with meeting on Sunday

Very good point Norman.

NormanBates1960 wrote:

BullishBaytix wrote: The problem is after thinking about it for a bit... Why would the Saudis agree to a freeze or anything even close to that which is going to push oil up to around $50, when they finally have the shale producers on the ropes? Production is just barely under 9 million, it used to be 9.6 million... thats all they wanted? 600,000 barrels off the table? I doubt it. The Saudis cant last another 6 months? yes they can. And by then another 400k will be off the table from north american producers. .. and more permanent damage will be done which is what they want.

Im starting to think it would be better to ride this from $7 to $9 with an agreement than ride it back to $4.80 without one, lol...
You can argue this scenario both ways..... I guess we all have to make our own investment decisions... Good luck all.

The problem is not Saudi Arabia but the majority of OPEC members who need oil in the high $70-80 to not bleed red ink in their budget. As the leader of OPEC, Saudi is in a though position right now. If they continue with over-producing, in 1 or 2 years, they might destroy the US shale, Canada tar sands and the North Sea but they will alienate most of OPEC members, which may result in the end of the Cartel. This would be bad for Saudi Arabia as OPEC is really their only avenue to have some kind of international political powers.