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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 20, 2022 3:22pm
195 Views
Post# 34974548

Had a feeling Oil would trade relatively flat

Had a feeling Oil would trade relatively flatTraders pushed Oil a tad lower at $84 I didn't think that there would be any huge $5 swings before the FED rate decision, even though there's news about Oil production tightness or news of additional production none of this trumps the FED rate decision tomorrow and once the FED is in the rearview mirror then the Oil market will cherry pick which Oil dilemma to run with. We could see Oil trade higher after Wednesday and it'll trade higher until concrete evidence is produced showing that the global economies are fully in the grips of a deepening recession. We have been trading at an average of $85 Oil all of Sept, The question is will Oil trade up into the $90+, or will Oil lose more ground and dip into the $70+ each move is only $5 away. Oil has failed a few times trading in the $90+ and it will take an event of major production cuts to keep it in the $90+ because we know as a fact that as global Central Banks continue to raise rates the outcome is an economy that's going to contract that's a 100% fact. I have a feeling that there's an event waiting to happen that will push Oil higher and that's necessary if Oil is to trade higher. Russia or OPEC are front runners. If Oil doesn't trade back in the $90+ in the next 2 weeks then that will take away any chance of it trading into $100+ Oil because as time goes on the economies will worsen and that will affect tightness and demand. BTE is once again holding ground



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