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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 d_trumpon Apr 09, 2017 6:36pm
131 Views
Post# 26098319

RE:US continues to import oil while not consuming US produced o

RE:US continues to import oil while not consuming US produced o
it's simply because many US refineries are geared up to produce heavy oil and US produces very little heavy, hence the need to import it. A couple other factors - the US is now able to export crude and this puts upward pressure on overall inventory, especially in the gulf (geographically that is where most of the build is). Another factor is pipelines - the oil in pipelines is counted as inventory so everytime a pipeline opens there is more pipeline inventory, which is essentially permanent inventory that will never decline. So when they talk of 530m barrels of record inventory, it's not like the glut is 530m barrels since much of the inventory is not really usable. So say 5 years ago inventory was 300m, it's not like we will ever get back to this level. A normal level of inventory might be closer to 450m.
Bullboard Posts