Cobalt, Baytex is somewhat of an anomoly in 2023A good advantage for those who know the business. Many other Cdn O&G don't have the hedges in 2022 that Baytex has.
So this provides Baytex torque in 2023 that others don't have.
Very few investors really look at the financials in depth.
I would bet 99% of O&G investors don't understand that an average of $95 WTI this year is LESS FCF than WTI $80 in 2023