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.

TSX:BTE - Post by User

Baytex Energy Corp > This will hurt Oil prices, Just Out

<< Previous

Bullboard Posts

Next >>

Comment by BayStreetWolfTOon Aug 09, 2022 10:17am

101 Views

Post# 34881312

RE:RE:RE:RE:This will hurt Oil prices, Just Out

Looks like a former alias taking a different tactic. LOL

Cobalt wrote: Any Iran deal would still need congressional approval , GOP hand the Dems a major win , I think not!

riski wrote: Iran is pumping full out and all their barrels are reaching market at a discount, disreetly. Mostly China is buying, but others as well. This is well known in the oil market and a deal with Iran will be neutral for oil.

JohnnyDoe wrote:

smallcaptdr wrote:
WTI crude futures eased toward $90 per barrel on Tuesday after gaining 2% in the previous session, as traders mulled the latest progress in talks to revive the 2015 Iran nuclear accord, which could potentially set the stage for increased crude exports from the heavily sanctioned country. The European Union submitted a “final text” to revive the 2015 deal late on Monday, awaiting approval from Washington and Tehran. A potential deal could boost Iran’s oil exports by at least 1 million barrels per day or about 1% of global supply in six months, putting downward pressure on prices. Meanwhile, investors are eyeing weekly US oil inventory data this week to gauge demand in the world’s top oil consumer, as recent reports pointed to declining consumption. The EIA will also issue its short-term outlook later on Tuesday, while monthly snapshots from OPEC and the IEA will follow on Thursday.
Add additional production now from Iran on top of additional production from new wells in the US and Canada and China's new Shale offshore discovery all happening in an economy that's heading for a major slowdown. $75 Oil by year's end is looking good.

Words like potential and could are a little different than signed deal and will wouldn't you say? So do you think the Iranian barrels are already getting to market? If so, what changes? If they're not, then they're shut in. How long do you think it will take the Iranians to restore shut in production? One year? Two years? Or do you believe the Iranians have some magic potion that enables shut in wells to immediately flow? But let's just say for argument sake that 1 m barrels of Iranian oil hit the market in 6 months. That just nullifies the SPR being shut down. It's not enough to compensate for the Russian embargo is it? Embargo+SPR end > potential Iranian barrels hitting the market. And the left side of that equation is a fact, the right a possibility
You seem like a headline guy. A lot of people here, like myself, are more in to data. Headlines are narratives. Data is basic math. The math says there is not another shale boom coming. Read this article, feel free to dispute if you're able
https://oilprice.com/Energy/Crude-Oil/How-High-Can-US-Shale-Production-Climb.html