Baytex Energy Corp T.BTE

BAYTEX print money every day !!!

[red2000]

Much faster of any CDN O&G producers...But I am a Long Term investor !

Remember, with all this short term volatility, that the avg. price of the WTI (ref. Oilprice.com) ended at a monthly price :
for October at 85,40$,
for November at 85.15$
and still at an avg. of 79,07$ so far for December !

Quarterly avg. of 83,21$ (1$ higher of Q3 avg.) !!!
During H2 /2023, Baytex confirmed a production of 155,000 boe/d.

They did 150,600 boe/d in Q3 and their guidance for Q4 may reach 158 to 160,000 boe/d, (5,8% inc. compare to Q3) with less CAPEX of 180M$.
Numbers don't lies, FCF for Q4 probably it 345M$. 

FCF Q3 2023 : 158.4 M$
Diff CAPEX :    187.0 M$ (Q3 : 409M$ minus Q4 : 222M$.

FCF for Q4 :     345.4M$
and I don't count the 5,8% inc of boe/d.

I stick with their plan : CREATING ENERGY CREATING VALUE.

AS W. BUFFET IS DOING WITH OXY !

Only my O ! Feel free to comments and also if you are a day trader or a mid or Long term investors !

[uwebb429]

Short term volatility in the oil market is normal for this time of year. The Thanksgiving day holiday is a major travel day in the U.S.; both driving and flying. Companies stock pile oil and gas before the holiday to get ready for this sudden demand. Significant usage will happen later this week. Use this annual volatility to buy some more shares like I did.  The debt needed to acquire

[red2000]

Nice recap from your part too ! The way they manage their business, i think they have a good chance to reach in 2 years of FCF the value they paid for Ranger Oil !!!! Awesome ! Thank's again for your comments !

[robert41]

We do a have decent percentage of barrels hedged so not all barrels are  affected on an up or down swing in oil. 

[jleer42]

Hedges are $60/$100 WTI floor/ceiling collars, so unless it gets out of this range the hedging is immaterial. There is also a limited number of straight $60 puts this quarter.

[Wildfury]

With $60 low with a high price of$100 means that even at $76,current prices is What Baytex gets. The price has to dip below $60, in this case BTE still gets $60 for 40% of their production, if oil reaches $120, the max they would receive is $100 for 40% of their production. Is this a correct statement? 

[jleer42]

Yes, you are correct. A collar is a combination of covered (sold) call and a protective (bought) put.  For hedging the simplest form is just to buy protective puts. Your downside is covered and you have unlimited upside potential. Puts cost money so companies may sell call options to offset the cost of the puts. Cheaper hedging, but now both upside and downside are limited.  Finally

[robert41]

Thx for the clarity I never really understood that part