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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 5:35pm
224 Views
Post# 35311004

RE:Baytex down -10% today as Eric Nuttall sells bte

RE:Baytex down -10% today as Eric Nuttall sells bte
These may be good lands that BTE might acquire from this new deal, but the macro picture for Eagle Ford is not good IMO.  The Eagle Ford has had the h3ll drilled out of it already.  How many more wellbores can you shoehorn into that heavily drilled play?  The maturity of the Eagle Ford is apparent in the production performance for the play over the past couple years-- flat production at best in spite of an improving oil price.  I understand the GOR has been increasing for the play.  The GOR's are certain to only get worse leading to declining oil production volumes.  Why not dump the Eagle Ford interests to some willing buyer and do some good things with the proceeds of the sale... like pay off outstanding debt, buy back shares,and put more money into their Canadian plays that have a lot of running room?
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