Baytex Energy Corp T.BTE

Alternate Symbol(s): BTE

Energy Oil & Gas E&P

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.

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Baytex Energy Corp > Interesting... $6's is a very real possibility over the next

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Comment by TheWokeLemmingon Jun 16, 2022 10:41am

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RE:RE:RE:RE:RE:Interesting... $6's is a very real possibility over the next

Absolutely SB we are on the same team AB's can respectfully disagree. I like oil hitting $130 before $100.

Snowballer wrote: To be clear, you and I are on the same team.

And my pleasure. Other than the US dollar...

1) Oil is extremely volatile

2) The rising wedge in the oil chart has broken to the downside

3) Other technicals suggest a much bigger drop ahead

4) Extreme fear in the markets

5) Europes recession will lead to a US recession

6) Political risk around government intervention (even if just jawboning) in forced "war measures acts" production. This introduces new risk in oil equities.

7) Slowing macro economy and asset bubbles bursting leading to changes in consumer sentiment and behaviour

There's probably a longer list to be made but ultimately the only thing that matters is the actions of those who trade oil. As I type oil is $112... oil traders are technical traders

Is it that hard to imagine oil droping $12 to $15 dollars from here? How about when Russia and Ukraine war suddenly takes a turn? Don't think the oil price is ever a sure thing. That's my experience anyway

TheWokeLemming wrote:
You're the one throwing it out there SB .... you defend why it will go under $100 when everything points the other direction other than current US dollar strength.

Snowballer wrote: That kind of rigid approach seems extreme especially given how crazy oil trades. IMO oil could tank to $95 easily even if it were just a flash crash. But feel free to elaborate on why dropping under $100 isn't possible? We all know the structural talking points... and I'm not saying it will go under $100 but looking at the chart it would seem oil has a new direction for now anyway

TheWokeLemming wrote: I'd have to disagree strongly with both of those. Once you begin claiming oil will drop under $100 you lose me.