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.

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Baytex Energy Corp > JD, Red, Td et al...great graph

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Comment by BayStreetWolfTOon May 04, 2022 9:00pm

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Post# 34657249

RE:RE:JD, Red, Td et al...great graph

Hi JD, as of 4/29 552 oil rigs.

Yes now you see the challenge

Try to plot to the dotted blue line what price of oil historically matches 552 oil rigs.

You got it...the line history repeats itself while mostly true not so much this time when so many rigs were sold for scrap in the downturn. Now you also have a historic supply chain crisis which has never been seen in my lifetime.

It's a new world. Really while it's funny to watch the flippers and short term guys...really it doesn't matter they are all going up in my opinion.

jdmecomber wrote:
So not even half currently, I found 793 in North American on 04/29

I found this a while ago. Now with the price of oil near $100 historically that would mean about 1,500+ rigs running

If people are looking for the disconnect this graph paints the picture.

Very clear.