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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 oilfanon Aug 08, 2023 6:01pm
281 Views
Post# 35578451

Oil Price

Oil PriceAs much as some on this post get excited wheh there is a surprise crude build, the crude price vector is destined to go up for the foreseable future. Two reasons:

1) Global demand is more or less steady but likely going up. All China talk is about slowing growth, not really consumption reduction. China's GDP growth was 6.3% in Q2...hardly a cause for panic.

2) The oil rig count in the US is only 525 now. Peak was over 1600 in 2014. You have to drill to pump. Curently the US oil industry is going through the DUCs but eventually the daily production will start to go down...and fairly fast.

Supply and demand laws will inevitably gain the upperhand.  

  
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