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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 IndianSparrowon Jun 13, 2022 11:06am
212 Views
Post# 34751973

Keep an eye on Macros

Keep an eye on MacrosTechnical charting definitely helps to identify bullish or bearish patterns and what might lie in the path ahead. As mentioned in my previous post, BTE has come back and on its way to the gap fill range of $7.75 -$8.00. But the broad market action is giving me some cause of concern for the near term as S&P has broken into bear market territory and a new low for this year. This can cause margin calls and forced liquidations at big money levels which historically will cause forced sells in all sectors. Oil Price action is now key to what happens to energy stocks. But macros are getting ugly and energy stocks may disconnect to the downside relative to underlying commodity. JMO. GLTA.
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