SPR tank levels dropping
The SPR cartel can keep releasing reserves as OPEC+ cuts production by the equal amount, who wins? Had a quick read on Baytex December presentation, it's all there, patience will prevail longer then a week of manipulation by the Covid SPR cartel. BTE will never go to 36 cents ever again. In the presentation, Baytex has 122 new wells planned for in their budget with a bunch more at Clearwater. What does that mean, are the numbers of daily production at Clearwater to be included in year end earnings release? They also mentioned by mid 2022 their debt levels to be 1.2 billion, by 2025 which is roughly 3 years, 240 million debt. The pandemic has caused many hardships, also created inflation for everything, energy prices are not solely to blame. Housing prices have exploded for years, food prices, auto, insurance, taxes, ect, ect. Energy is here to stay for decades unless Elon Musk comes up with some new energy source invention then we're all screwed. Don't sell, buy more if it's feasible