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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 Nov 16, 2021 8:42pm
260 Views
Post# 34134418

Here are the facts

Here are the facts

If the EIA doesn't announce a draw tomorrow of 2.5 million oil barrels expect oil to be under $80.  Don't listen to Wolf, he is using words like massive draw when it was a 655000 barrel increase.  I think long term we will get to $5 but in e short term $75 oil and a $3.50 to $3.75 share price is quite possible.  I sold 30 percent of my shares today but hold 70000 plus shares still.  Was hoping for $5 but just don't trust it.  I am gambling here but the Copa Deal ha a really killed the rally and I think Lithium is on fire and oil has stalled.  I hope I am wrong but too much resistance since earnings and no catalysts here to make it move.  No dividends, no buybacks and 1.4 billion in debt.  This is a long term play for many moons and years, $5 is not hallenjng by Christmas.  Since earnings the stock has been weak.  All the catalysts Wolf mentioned are in the distant future and too much noise with electric cars and 5th wave of Covid to make the oil rally continue.  We could get a real swoon here.  I think the rally is ending and we end tomorrow under $80 and I think all the recent noise is contributing to oil sliding.

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