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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 Marty57on Feb 28, 2023 11:12am
210 Views
Post# 35309683

RE:It's great to add inventory for sure but near term..

RE:It's great to add inventory for sure but near term..
If they were going to do anything I would have rather they sold their Eagle Ford property, and use the proceeds to clean up the debt and focus efforts in Canada.  It would mean they get smaller... big deal.  IMO the initial move into Eagle Ford all but sank the company by saddling them with huge debt going into the big oil price downturn that started in 2014.  This new move seems to me to be doubling down on stupid.  I hope I am wrong, but I think this action will just mean many more years of painful waiting for shareholders. The light at the end of the tunnel that shareholders have been watching slowly get closer for the past couple years just moved way off into the distance.
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