A pessimistic articleAuthor doesnt think $50 wti will hold. Yet at this level or more Baytex is safe. This is why I think Baytex hasnt taken off yet, the market still thinks oil may collapse yet again. If that happens yes Baytex will be in trouble. Opec has saved them from the brink.
"The key is the cash flow on the heavy oil and the light oil projects. The heavy oil needs at least $50 per barrel oil prices to be competitive with the Eagle Ford. Yet that oil price level does not appear likely on the current horizon."
https://seekingalpha.com/article/4012186-baytex-energy-race-time
cc