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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

Post by Unlucky13on Jul 15, 2021 7:38am
114 Views
Post# 33547985

Oil getting the stuffing kicked out of it now

Oil getting the stuffing kicked out of it now The price targets I suggested remain in effect.  Remember when I said if we go back under $2 it won't be worth the ride, well it certainly looks like that will happen.  At $60 oil this is a $1.50 stock for years to come.  Terrible scenario to have $60 oil.  With oil down $1.50 now we likely end the day at $2.20, that's a 15 percent haircut since it neared $2.60.  At best we only get back to $2.40 at earnings and the oil price doesn't cooperate we will never get to back to the $2.60 level.  $3 is not happening this summer, it's a given now.  The Delta variant is wreaking havoc on the world.  How disappointing BTE remains, it's going to take $85 oil for months on need to break $3.  The lack of an OPEC deal likely means a step to increased production in the world.  When Iran gets back on we might end up back at $50 oil right where we started this mess under a buck.  Interest rates are likely to rise, we are going to end the summer with a whimper.  I should have sold at $2.50 plus.
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