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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 Dec 13, 2022 12:06am
493 Views
Post# 35167652

Oil's bullrun may have just started

Oil's bullrun may have just startedlast week I said that Oil would hit $70 and Friday it did and that's when I dove into buying beat-up Oil stocks to hold and today Oil was no let down rising to $74 and why I feel that this run could be at the start is $70 was the bottom, for now, todays rise was to do with China giving hope, Keystone pipeline and Russia threatning to cut production, so Keystone will be resullved near term but with China and Russia concerns will keep Oil higher once Keystone is done and as the weeks unwind we're working towards Jan and OPEC which will announce further cuts so this is how Oil will continue to climb plus it all has to do with the US traders feeling positive after the longest bearish trend Oil currently experieced which started Nov 4th at $93 and when the US traders were determined to push Oil lower they did even when bullish reports were out so if they're now feeling bullish this could carry though 2023 but it'll take time to run up $2 at a time it took Oil over a month to drop from $93 so we have to expect the same if this is the start. If Tuesday sees Oil flat or higher Oil stocks should move after the recent firesale. This is why firms have stopped giving guidance on Oil because they could never get it right even though I started late June posting that Oil was heading to $75 by year's end everyone knows this because I was always getting bashed but it was the truth. We need a good bullish week we are overdue. GLTA  JMHO
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