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.

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Baytex Energy Corp

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Post by smallcaptdron Mar 31, 2023 11:23am

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Post# 35371831

Latest drivers for Oil...

We already know that China's Manufacturing PMI remains above 50 then Euro Area Inflation hits 6.9% which is still high but a far cry from 10.6% hit in 2022 working to keep Oil bullish next up was the US Personal Income which rose by 0.3% not great but still an increase, Personal Spending took a hit with a small increase of 0.2% which could deteriorate even more with everything happening in the US slowing it down and US Core Pce Price Index which excludes food and energy rose by 0.3% which gauges Inflation all added to the bullishness of Oil in one way or another but even with the bulls forward charging Oil Stocks still arent 100% sold that Oil will continue towards the next phycological barrier at $80 and right now it's fighting to stay at $75 so today I expect to see profit taking in Oil ahead of the weekend because there's always a risk that overseas for whatever reason could throw a curveball but Fri usually sees lighter trading across the board but this week was successful for Oil and Gold. Right now the USD is gaining strength hurting commodities check out DXY in currency and the USD is bouncing off a year low so heading higher has become a party crasher if it continues back to 105.00. I'm unwinding ahead of the weekend but it's geared more toward profit taking and with cash, you can jump right back in when next week's picture becomes clearer. BB is today's money maker.

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