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 > SPR draw down 6.9m from last week.

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Comment by BayStreetWolfTOon Jul 11, 2022 2:27pm

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Post# 34815787

RE:RE:SPR draw down 6.9m from last week.

Thanks for sharing Drift, really it will be interesting to see what the Biden admin does after the mid-terms.

My bet....the SPR won't be refilled anytime soon...not sure what they are going to do when it's done. I highly doubt they can enforce the oil embargo on Russia.

It will be an interesting Q4....coming soon!

For now close to September for the front month....

Drifter133 wrote:
Bay, here is a very nice post from saintsinneridiot on the IV board

SPR Drawdowns will endanger the US

Today the latest SPR releases came out. What people HAVE to understand is the reserves are being drawn down at a far faster rate than most expect. The reason is the Sweet/Sour difference in both demand and reserves. Don't forget the US produces a ton of sweet crude, but the refineries have been designed to process a good amount of heavy sour.

So what are the latest numbers?-sweet:233 & Sour: 251.

In the past two weeks, 93+% of all crude from the SPR released was sour. If this level of releases continues in TWENTY weeks (Nov. 1) the following will be in SPR:

Sweet:

225.2

Sour:

140.9

This level of sour reserves is very dangerous. Every 20 weeks we are drawing 110 of sour crude. Does anybody think that the Admin is going to stop all SPR sales in November? Let's say they continue. By the end of the year, we all have 30 !?!?! sour crude in SPR.

Yes ONLY 30mb of sour crude in SPR.

If ANYTHING happens we have zero sour crude in SPR.

This is a real danger for any ME event to cause us to have insane oil prices. The Biden admin. is putting the country in a dangerous position.

Lastly, legally the Admin HAS to buy back all this crude. When will the crude market ever have this much sour crude to add to the SPR? Or even sweet crude? They are drawing down reserves at an insane pace to keep oil prices down. But just before Nov, the party will end. This cannot mathematically continue.