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 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.

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Baytex Energy Corp

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Comment by BullishBaytixon Apr 17, 2016 5:12pm

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Post# 24776816

RE:RE:Kuwait strike may be the saviour

should be interesting, but I am going to sleep well tonight. No worries. All the best.

1troffer wrote:

BullishBaytix wrote:
The OPEC member’s production dropped to 1.1 million barrels a day, Saad Al-Azmi, deputy chief executive for finance and spokesman at Kuwait Oil Co., said in posts on Instagram and Twitter on Sunday when workers walked off the job. Kuwait Petroleum Corp., the parent company for KOC and other operating units, will continue providing fuel to the local market and can meet demand from international customers for exports, it said on Twitter.

Kuwait is among Middle Eastern oil producers that are cutting spending and benefits to plug holes that the oil-price drop of nearly 30 percent in the past year has punched in government budgets. Prices have fallen as rising output from the Organization of Petroleum Exporting Countries and other suppliers has created a global glut. Kuwait produced 2.81 million barrels a day last month, making it OPEC’s fourth-largest member, while worldwide supply exceeded demand by 1.6 million in the first quarter, according to the International Energy Agency.

‘Shocking’ Decline

The plunge in Kuwait’s output “is just shocking,” Edward Bell, a commodities analyst at Dubai-based bank Emirates NBD PJSC, said Sunday by phone. “That would take care of the surplus right there. There could be quite a bit of upside in oil tomorrow.”

Actually , bullishbaytix, in the past, an incident like the Kuwaiti strike, losing 60% of production, would cause an immediate 1.50 -2.00 spike in oil price guaranteed, but now , in todays market manipulation, there is no telling what will happen. I can remember a few years ago that there was a storm forecast for Louisiana and oil went up about 3%, just on the threat of a storm. It will be interesting to see what happens tomorrow.