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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 smallcaptdron Sep 29, 2022 9:31pm
233 Views
Post# 34996550

Numbers don't lie!

Numbers don't lie!The DOW is down 7727 pts and the TSX is down 3772 pts these are huge numbers and Oil is down $40 and there are still going to be losses added to these numbers as we get deep into a global recession and a recession is guaranteed. This week flew by and Oil shot up from $76 to $82 but stalled out today and tomorrow is anyone's guess where the markets and Oil are going. Next week there's the usual US Data coming out as we head into October supposedly a cursed month for stocks and tomorrow is the end for Q3 with Sept Oil averaging $82 and this will hurt BTE Q3 so July & Aug averaged $93 Oil and Sept $82 these numbers are just me eyeballing the Oil chart so Q3 will defiantly be worse than Q2 and we need to consider what SP will reflect this quarter plus we'll be starting Oct with lower Oil prices so unless Oil heads up to $90+ Q4 will be even worse. If there's a math wizard on this BB figure out what kind of revenues we can expect. I'm thinking that it's very possible that the FED speeches could really hang a cloud over tomorrow's markets but it's just as possible that traders could have a relief rally on the stock markets and Oil has a very good chance of heading lower because it lacked any bullishness today. Expect volume to be light like all Fridays unless the markets get spooked and have a heavy sell-off before the weekend. We could be back to $70+ Oil tomorrow on the downside or $85 on the upside.


Commodity Forecast 2022/2023 (tradingeconomics.com)

Stock Market Forecast 2022/2023 (tradingeconomics.com)
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