RE:RE:RE:Why are ALL oil stocks down today? CMendoza wrote: Just clarifying my post. Got this from Baytex webstie
"Approximately 80% of Baytex's heavy oil production is priced off WCS. The actual raw heavy oil price that Baytex receives for its heavy oil production is further reduced by the cost of blending the heavy oil with diluent to meet pipeline specifications." CMendoza wrote: WTI and Brent futures were red today, not by much though. And I think Baytex and other Canadian OGEP companies fall under WSC? WSC was -7% in the red today lol. WSC is garbage right now, seriously selling at a 60% discount compared to WTI, its really pathetic. Also, oil futures and OGEP stock prices don't correlate 100%. Stocks move also by investors/traders emotion or they just want to take profits.
InvestoRob wrote: Wti and Brent trading at 4 year highs. Why are all oil stocks and oil etfs down today? Am I missing something?
From August 22 circular... WCS is generally the heavy oil production. Combined assets:
”Heavy Oil
Our heavy oil production at Peace River and Lloydminster totals approximately 27,000 boe/d, representing 29% of total company volumes. In the northern Seal area of Peace River, our first three wells have established 30-day initial production rates of approximately 800 boe/d per well. In Lloydminster, we have recommenced our Soda Lake multi-lateral drilling program. In addition, we continue to advance our Kerrobert thermal project with first oil from the new wells anticipated in October. We currently have four heavy oil rigs running, two each in Peace River and Lloydminster.”