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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 269,000 gross 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

Bullboard Posts
Comment by bshort92on Feb 19, 2013 4:05pm
166 Views
Post# 21012140

RE: Breaking News! Insiders are selling!

RE: Breaking News! Insiders are selling!

BTE has traded sideways since Anthony Marino's departure amid an internal flap whereby supposedly Marino wanted to do more to grow BTE's production. Evidently Chan, the protectors of the dividend and conservative balance sheet did not fully concur although BTE (still trading at over $100 K per flowing boe) is now heavily involved on the investor conference circuit seeking new investors. Currie rated TBE a top pick right after they announced a significant purchase of a Sprott owned private heavy oil concern, Waseca, last fall. Shares ran to $3 a share but then this 2/3d's smaller dividend paying interemediate lost a tenth of their production due to extreme cold weather the shares tanked. Not sure if the weather effected BTE. Far as I know Salman (Currie) still rates the beaten down TBE (now trading at under $30 K per flowing boe) as a top pick. Clearly heavy oil has wide differentials to contend with but is still a compelling value to investors as low cost production, active hedging and embracing rail vs pipeline transport is mitagating a portion of the wide pricing differential for heavy crude.

Bullboard Posts