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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 Tradestayon Jan 04, 2023 6:59pm
343 Views
Post# 35203880

API surplus 13M WITH SPR DRAW 17 times that surplus 221M

API surplus 13M WITH SPR DRAW 17 times that surplus 221M U.S. crude inventories increased just 13 million barrels in 2022, according to API data, while crude stored in the nation  Strategic Petroleum Reserves sunk by nearly 17 times that figure so far this year by 221 million barrels.

Look at this week, surplus of 3.29M crude with 2.7M SPR draw.

The API inventory also showed a 1.2 M barrel build in gasoline and a 2.4M barrel decline in distillate stockpiles.

Net draw of 0.61M barrels

(3.29M build +1.2M gasoline build) less ( 2.7M SPR and 2.4 distillate draw) = -0.61M.

The interesting thing is the inventories are down but the headlines are saying slowing demand. Time will tell. 
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