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.

TSX:BTE - Post by User

Baytex Energy Corp > Price of WTI this week

<< Previous

Bullboard Posts

Next >>

Comment by Cobalton Nov 18, 2023 2:02pm

153 Views

Post# 35742710

RE:RE:RE:Price of WTI this week

Yes how high can it go?
"that shale producers can double crude output from their existing wells"

ExxonMobil: New Fracking Technology Can Double Oil Output | OilPrice.com

riski wrote:
American production is definitely a headwind and a good bear argument. How high can it go? Some experts last year were saying that all the tier one acreage had been drilled and the ability of Americans to increase production is fundamentally changed. In addition, companies are focusing on shareholder returns rather than production increases.

Yet the Americans have added almost a million barrels of production since then and now sit at record production of 13.2M barrels. Will it level off? I think a lot of oil traders are watching this data point more than anything else and oil trades sideways or down because of it. If production goes flat or down for a couple quarters, WTI will see strong upward pressure.

There are some participants claiming that the production numbers are fudged to serve Biden's purposes of keeping oil prices low. But in the absence of that evidence, traders are forced to trade on the data in front of them.

Cobalt wrote: Good luck with that as they are handing market share over to the Americans, how soon we forget the price war they had to crush the Americans.

Lina_Casa wrote: I'm actually kind of hoping the price of WTI remains low this coming week. If oil stays in the low 70's I believe OPEC will agree not only to continue production cuts into 2024, but might increase those cuts even further.