RE:RE:RE:RE:JANUARY 23 PRESENTATION ONLINE 2022 is past and no more relevant for the future SP, my comment is based on the 2023 guidance which acknowledges the expiry of 2022 hedges. Just look at the 2023 guidance and see the possible FCF generation corresponding to a given oil price level, then you would understand what I am saying.
HighOctane89 wrote: I know hopw everyone wants to see a glass half full but after looking at the presentation , one thing really stood out that I haven't heard anyone else mention . Slide 34 discusses cost/barrel and FCF , in the first 9 months of 2022 the derivative losses averaged $12.66/barrel
(87000bpd X $12.66 = $1,100,000/day or $99 million/Q) .
Since those old hedges have all expired at these prices BTE will have derivative gains while saving on average $1,100,000/day . Just a little food for thought .
1234bmth wrote: Unfortunately, there won't be any further excitement about Clearwater because BTE plans to produce 15000 bpd from Clearwater for a period of 10 years and it has already reached 12000 bpd so another 3000 bpd won't make a significant difference in SP. BTE's exploration cost is relatively higher than its peers, therefore BTE needs sustainable $80 + oil for at least one full year to create solid SP appreciation.
uwebb429 wrote: Quietinvestor wrote: Note slides 22 and 23 on Peavine Clearwater - greater detail provided on activity in this area. Baytex now has top 15 wells in this area.
Eric Nuttall casually mentioned on BNN Market Call a while ago that Baytex had 15 of the top 15 producing wells at Peavine. Some here did not want to believe. Thanks for confirming that.
Investor Presentation January 2023
https://www.baytexenergy.com/investors/ With the SPR releases done and China opening back up, hopefully the price of oil and the price of Baytex start to recover.
The U.S. sent two ships to Venezuela recently to acquire some oil so they can start refilling the SPR.
https://katv.com/news/nation-world/chevron-sends-2-oil-tankers-to-venezuela-after-biden-admin-green-lights-company-to-resume-work-there It says a lot when the U.S. would rather get their oil from the United Socialist Party of Venezuela than have to deal with Justin, leader of the United Socialist Liberal Party of Canada.