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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 scienceguy36on Aug 02, 2022 12:17pm
277 Views
Post# 34865993

Unable to capitalize on current oil prices

Unable to capitalize on current oil pricesAfter reading through at least a dozen  Q2 financial reports it appears their are several companies that are unable to capitalize on the current high oil prices. BTE appears to be one of those companies that will take at least until Q2 of 2023 to get their balance sheet in order. With hedges, large debt, and large share float returning equity to shareholders should not be a priority with this company until they get their house in order. I expect shareholder money to move from these type of companies to ones that are already in a good financial position to return equity to shareholders immediately. ex - CJ comes to mind.
If oil prices stay elevated then companies like BTE that have robust oil production and great drilling locations such as clearwater will see some of this money coming back in towards the 2nd half of 2023.
I understand that for some shareholders the option of bailing on over hedged companies like BTE would entail a large loss so will have to wait until these hedges come off and hope oil prices stay elevated.
JMHO ..... GLTA


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