This was a long time coming!And expected 8)!!!
Anyone with a decent IQ could have seen this coming from miles away. Oil peaked some time ago and was artificially inflated at that because of the Russia-Ukraine conflict, with some sprinkle of Corona of course. I warned you guys what was coming, and i hope companies like Baytex took the necessary measures to protect themselves in case oil drops back down $60 bucksaroos. This is why i encouraged & hoped that Baytex would divest itself of some assets for some much needed cash to par down their massive debt load. Which imho, is way too high for them to manage properly & efficiently in things turn sour again. Even though i'm not a s/h here, you guys don't want a repeat of the 2020 scenario where Baytex and bunch of others were at the very edge, at the precipice nearly BK.
This is why you listen to the wise opinions & advice of Pros like me and not the inexperienced & naive -slash- pumpers like HighOnOctane, NomasFortuna, the gerbel RealCndbacon & other fools on these forums who don't know WTF they're stying or doing! They just PUMP. I hope some of you good folks were smart enough to deleverage yourselves of some your investments in this sector & took some much earned profits early, because if you didn't and took the NomasFortuna & HighOctane path to profits/salvation......well, you guys are in for some real pain now! If that's the case, you better hope our dear old Putin doesn't pullout prematurely LOL from Ukraine or things can get real bad for O&G....
GLTA