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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

Comment by oldbrit34on Feb 26, 2023 11:50am
218 Views
Post# 35305814

RE:NYSE CURSE

RE:NYSE CURSEThe market is very reluctant to forgive any stock and BTE is no exception. In the old days it was a high flying Unit Trust until the conservatives scrapped them. There were many oil and gas stocks listed as Unit Trusts and they all took at least a 20% haircut on the first day of trading as regular stocks. It was downhill from thereafter. Baytex had been as high as $55 but the very nature of Unit Trusts encouraged high amounts of borrowing and BTE was no exception. Also American investors had been into Canadian energy stocks big time but when the small c conservatives pulled the plug they started to move out  and have never returned in large numbers. We have a situation today where investors do not trust the liberal govt. and believe they may well do something that will depress oil and gas stocks even further. Yes BTE is very undervalued but we may well see a sizeable dividend annoucement coming later in the year along with share buybacks. I have started to take a small position and in looking at the charts , under $6 it seems to me to be a good opportunity which will reveal itself to be so later in the year.
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