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

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Post by 2021Gambleon Feb 28, 2023 8:23am

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Post# 35309040

Upgrade to USD-CAD forecast by UBS

UBS Upgrades Its USD-CAD Forecasts

28 Feb 2023 08:17 ET

08:17 AM EST, 02/28/2023 (MT Newswires) -- UBS revised its USD-CAD forecasts to 1.35 (previously 1.36), 1.35 (prior 1.38), 1.35 (previoysly1.38), and 1.35 for each quarter-end period in 2023 and introduced a 1.35 forecast for end-March 2024.

The Bank of Canada (BoC) is likely to pause its tightening cycle in March, but risks of further hikes later are on the rise, noted UBS.

This didn't change the bank's conviction of a lower terminal rate at the BoC than the United States Federal Reserve's.

Repricing of the Fed's terminal rate following strong US PMI services may cause USD-CAD to spike over 1.35, according to UBS.

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