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

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Post by smallcaptdron Apr 13, 2023 12:27pm

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Post# 35393245

He who giveth taketh away in Oil...

Oil has been heading lower since yesterday $83.40 but it's hard to notice with the few peaks higher but it is rolling over. Oil also hit resistance at $83.50 so take note that Oil now relies on what comes next, Bullish or Bearish drivers, and the word recession has been part of the vocabulary since June when Interest Rates started to climb. 2008-09 had higher Rates that contributed to holding too much debt on the books so will higher Rates trigger a deeper global recession is now front and center for Oil. Oil needs a bullish reason to punch higher with headwinds of uncertainty and Gold at $2040 speaks volumes with the USD breaking toward new lows isn't helping Oil and that's concerning that negative sentiment is overpowering.

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