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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

Comment by Unlucky13on Nov 19, 2021 3:22pm
176 Views
Post# 34147546

RE:Time to sell?

RE:Time to sell?I am very clear where I stand.  The catalysts to go down far outweighs the catalysts to go up.  BTE is 1.4 billion in debt!  At current oil prices it's going to take about 4 years to pay off the debt.  Biden is pushing for lower oil prices and for electric to take over.  He wants 50 percent of the cars to be electric within 10 years.  Covid is still raging and isn't going away.  The SPR is being released and OPEC is increasing production by 400000 so I just don't see a scenario where this doesn't retrace here.  Under $3 a share and $65 oil is very real now as US production ramps up, demand is going to be outpaced by supply.  The COPA deal has buried the long term prospects of oil as countries have signed up for carbon neutrality by 2050.  I think all the hype has work off and the rally has fizzled.  It was a pretend rally as it was because Covid really shutdown the world and the markets were acting as if everything was normal.  It's not.
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