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Bullboard - Stock Discussion Forum 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... see more

TSX:BTE - Post Discussion

Baytex Energy Corp > I'm sure this has some effect on Baytex
View:
Post by Drifter133 on Apr 05, 2022 4:12pm

I'm sure this has some effect on Baytex

As Alberta's oil and gas industry rebounds, there's a new problem: not enough workers



https://www.cbc.ca/news/canada/edmonton/shortage-workers-oil-prices-1.6404716?fbclid=IwAR1c-bThNHC7RjOrCDQjyIfkMxNkNB0_leWm3pdoE3sAPevB8ubowET7KtM


Companies say there's not enough labour to meet demand, and it could curb the sector's growth

 
Pumpjacks draw oil out of the ground near Olds, Alta., on July 16, 2020. Oil and gas companies in Alberta say they are struggling to recruit enough labour to meet growing demand. (Jeff McIntosh/The Canadian Press)

The price of oil has been rising steadily the last several months, and while that should spell good news for the energy-producing province of Alberta, it has instead shone a spotlight on a problem — there aren't enough workers.

The province fell into a recession in 2014, when the price of oil plummeted, putting Alberta in a tough financial position and forcing many oil and gas workers out of a job.

 

But prices have spiked after sanctions against Russia have decreased its exports. Plus, after a slump at the beginning of the pandemic, oil consumption is now nearly back to pre-pandemic levels

And now that things are again on the upswing, companies ranging from family-run businesses to larger businesses servicing the oil and gas sector are struggling to recruit enough labour to meet growing demand.

WATCH | As countries ban Russian oil, what are the solutions?

 

Searching for solutions as countries ban Russian oil

18 days ago
Duration8:10
With more countries banning Russian oil and looking to make deals on Saudi Arabia’s oil supply, it raises ethical issues considering the country’s human rights record. Plus, the opportunity this presents for countries to look at more environmentally friendly solutions. Ginella Massa talks to Deborah Yedlin, chair of the Calgary Chamber of Commerce, and Tzeporah Berman, program director for the environmental organization Stand.Earth. 8:10

Pitbull Energy Services, an oil and gas services company based in Edmonton, is looking to bring on approximately 100 truck drivers, but is having trouble finding qualified people. President and CEO Sami Hayek said the company is running at 60 per cent capacity until those positions are filled, and he would have liked to fill those roles "yesterday."

"We're still short. We're still recruiting. We're still training. It's an ongoing issue we're dealing with," he said.

"It's never been this bad."

While Hayek said there are people applying for jobs, there is a shortage of qualified applicants available as Alberta enters, what is believed to be, a boom.

"It's definitely frustrating. It's frustrating but we're working our way through it," he said.

Comment by BayStreetWolfTO on Apr 05, 2022 4:31pm
Drift, there really are so many problems on the supply side. Materials, labour, Eco woke etc etc. BTW it seems the China gig is up also...market not believing they are going to kill their economy for COVID...hence oil still $100+...the market is figuring out they are just trying to play the game.
Comment by Drifter133 on Apr 05, 2022 4:38pm
Yes Bay, I was glad to see WTI hold the $100 psychological price at end of day!
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