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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 > U.S. OIL RIG COUNT FALLS TO LOWEST LEVEL SINCE 2019
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Post by lensgtoon Aug 07, 2020 6:02pm
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Post# 31381309

U.S. OIL RIG COUNT FALLS TO LOWEST LEVEL SINCE 2019

U.S. OIL RIG COUNT FALLS TO LOWEST LEVEL SINCE 2019

U.S. Oil Rig Count Falls To Lowest Level Since 2009

By Julianne Geiger - Aug 07, 2020, 12:17 PM CDT
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Baker Hughes reported on Friday that the combined oil and gas rig count in the U.S. fell this week by 4, to 247.

The total oil and gas rigs are down by 687 compared to this time last year.

The number of oil rigs slipped for the week by 4 rigs, according to Baker Hughes data, bringing the total to 176, compared to the 764 active oil rigs this time last year.  Two of those four rigs lost this week were in the Permian Basin.

The total number of active gas rigs in the United States stayed the same at 69 total rigs. This compares to 169 rigs a year ago.

To compare active rigs with supply figures, the EIA’s estimate for oil production in the United States fell for the week ending July 31—the last week for which there is data, at 11 million barrels of oil per day. Oil production in the United States is 2.1 million bpd less than its all-time high reached earlier this year.

Canada’s overall rig count rose this week by 2, reaching 47 active rigs. Oil and gas rigs in Canada are now down 93 year on year. 

The Frac Spread Count in North America, provided by Primary Vision, has been trending higher in recent weeks, driven mainly by a modest increase in activity in the Permian.
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