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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 smallcaptdron Sep 19, 2022 12:48pm
252 Views
Post# 34971449

BTE fly's higher into headwinds

BTE fly's higher into headwindsOil is off its low of $82 and is now at $85. Right now the stock markets are basically flat and the reason for Oil's rally up towards $86 could be to drive the price of Oil higher to sell into it after buying cheaper Oil but Oil traders have been torn between what the FED rate hike in 2 days could do to the price of Oil and having OPEC saying that they are down 3.6Mil bpd below Oil production target plus Germany is currently being pushed into a recession due to NG shortage. And there's so much more that's behind driving the price of Oil but BTE has taken off higher from the time that the gates opened. Be careful for the next 2 days and if you're into profit you might consider protecting it and taking cash off the table by day's end because tomorrow the US Data starts its 2-day reality check so Oil could be very volitile and I'm thinking that by Thursday and Friday we could see Oil settling into the number that fits the times then BTE SP will also reflect the times and the price of Oil. Heres is some of the news that's moving Oil

Global Oil Demand Dropped By Over 1 Million Bpd In July | OilPrice.com

OPEC+ Is Now 3.6 Million Bpd Below Its Oil Production Target | OilPrice.com

Russia’s Oil Exports Are Set To Plunge Next Year | OilPrice.com

Oil Under Pressure As Traders Await Fed Decision | OilPrice.com

The UAE Plans To Ramp Up Its Oil Production Capacity | OilPrice.com


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