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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 > Topping Out with Oil
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Comment by Cobalton Oct 27, 2022 12:58pm
124 Views
Post# 35053567

RE:Topping Out with Oil

RE:Topping Out with OilSomething to watch i see the leaders like CNQ are now overbought on the daily and toping candles are showing up, Rage on Max 

smallcaptdr wrote: Oil just can't hit $90 yet and has taken 4 runs at $90 only to fall back to being at $88 and today's move is in anticipation of higher Oil prices in Nov with OPEC cuts along with positive GDP and weaker USD but maybe we are topping out, remember in Sept Oil hit $76 and then OPEC came out with Nov cuts and Oil rallied to $93 and settled back down to $81 plus OPEC wants $90 Oil and is forecast at being at $88 till years end so I'm wondering with so many failed attempts today to hit $90 this might be getting close to topping out due to OPEC cuts plus Nov 2nd the FED comes out with their Interest rate decision which in the past had a negative effect to Oil dropping and was the start of Oil falling to $76 in Sept. As we have seen many times during recessionary times Oil drops dramatically regardless of tightness because it's known that during recessionary times demand continues to weaken faster than any adjustment in production can stop. I'd be careful at this point if you're going long that this might be time to think about profit-taking before Oil heads lower. JMHO

United States Federal Reserve Interest Rate Decision (investing.com)


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