RE:The Energy Crisis Is Only Getting Worse | Josh YoungVery nice interview ! Worth 1 hour of your time and your investment !
It's still and oil supply problem and it's take time to settle it !
Oil demand will not collapse, may be increase slower but increase !
Financial and multiple ratio will climb on a mid term view.
Josh also said producers always put into production their best wells, first !
Baytex never done it because economic was not there 10 to 15 years ago !
My understanding about the O&G CDN producers, most of O&G producer already past their 1st and 2nd set of best wells and next one will be less boe/d with higher CAPEX !!!
It's not our case with Baytex ! They just start to produce wells in locations owned since 2008 and 2014 !!!
Look at the boe/d in Clearwater compare to their peers.
I always said : Baytex knows where to drill !!! Because they were suppose to drill it many years ago when the bought multiple locations. All that bases on past geologic studies, the oil is still there !!!
They succeeded in supporting the debt caused by these acquistions, because past hedges saved them from bankruptcy.
Another good things is, Baytex already has infrastructures in place to collect and deliver this oil.
And don't forget their employees on the field, they used the best technics and method to extract oil, their multilateral wells are the best one in the industry in Alberta !
Don't hesitate to comments and post your one view about this subject !!!
Always interesting to discuss and learn.
GL Longs !