RE:RE:RE:$5 is about the right targetWith the barrel at 60$, Nuttall call BTE at 2$.
With the barrel at 70$, Nuttall call BTE at 3,60$.
As I said earlier, all factors are good for energy stock.
$CDN still UP.
Demand is back.
WTI and Nat Gaz are raising.
New project with Clearwater sound a 4 months payback FCF 440M$ for only capital expenditures of 110M$. Please correct me if I am wrong ?
Better hedge price end of year or no hedge price !
Q2 is going to be very proitable on an accounting base too.
Update of the Impairment with WTI $, means reduction of charges.
BTE impairment charge so far roughly 2,3 B$.
Oil & gas producers have been forced to take steps to improve their liquidity and make production cuts as prices have fallen to the lowest in decades, primarily due to a price war between Saudi Arabia and Russia as well as a demand slump amid the coronavirus pandemic. Weakness in the equity markets at the end of Q1 and through Q2 in 2020, due to the virus outbreak and substantial decline in commodity prices, have forced public oil & gas companies to take large impairment charges in recent quarterly reports.
Look the May presentation here : https://www.baytexenergy.com/files/pdf/corporate-handouts/2021/2021%20May%20Presentation.pdf
As Nutall said earlier in 2021, Baytex is going to be a FCF Machine !!!
More details soon !
Still LONGS !