RE:Suddenly WTI over 79$ !!!Red, imo more often than not markets react negatively to merger news. Shares trade hands. People start evaluating the merged entity. I held CVE when it bought Husky. Sold WCP when it bought XTO. I'm going to hold bte thru this acquisition.
The merged numbers at 90 + wti are ridiculous. I am also really fond of two other things.
1. The ability to better manage the WCS spread by deploying capital north or south of the border
2. The operating ability gained in the Eagle Ford. Our bte holdings were non operated. This provides us the operational expertise in the basin.
I do think Baytex could have hit 10 bucks on the backs of 6 months at 90+. But I think this thing can soar given the %age of barrels selling at wti or better.
We'll see how it plays out. I'm a firm believer in the supply side squeeze so I think we're going to get a nice spike thru the summer.