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Baytex Energy Corp T.BTE

Alternate Symbol(s):  BTE

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

Post by BayStreetWolfTOon Feb 28, 2022 11:14am
192 Views
Post# 34467775

Reuters Feb 28 - China increasing SPR Oil reserve

Reuters Feb 28 - China increasing SPR Oil reserveWhile the US seems to be looking at an SPR release...China is going the other way.

This may suggest China believes oil prices are going higher and they are trying to build some inventory...it could also suggest any SPR release by the US would just be scooped up by the Chinese.

Biden is in a jam...

Reference:
https://www.reuters.com/business/energy/exclusive-china-boosts-oil-reserves-ignoring-us-push-global-release-2022-02-25/

"EXCLUSIVE China boosts oil reserves, ignoring U.S. push for global release"

"LONDON, Feb 25 (Reuters) - China has ramped up purchases into its oil reserves this year even as oil prices soared, despite calls from Washington for a global coordinated stocks release to help cool the market, industry data showed and traders said.
 
Washington has sought cooperation from China to bolster the impact of a coordinated release of strategic oil stocks from major consumers to dampen the surge in oil prices, which topped $100 a barrel this week for the first time since 2014 after Russia invaded Ukraine."

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