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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

Post by masfortunaon Aug 31, 2023 11:36pm
359 Views
Post# 35615199

Patience

PatienceWe soon will start September which historically has been a very poor month for equities in general. As it stands, another big draw would eliminate any surplus crude that was accumulated between January and April. US GDP registered a 2,4% which is ideal and indicates that no recession will take place in 2023. Rate hikes appear almost done. The DEMS can't touch the SPR without house approval and it is unlikely the REPS will give them a blank cheque to release whatever they want. Opec+ (Russia) appears to be much more united than in the past.  The Saudis may extend cuts into October. And CHINA, for what it's worth, is on pace for a healthey 6.3% annual GDP.  Athough less than expected, this 6.4% will mean that petroleum products will be required and demand will stay strong.  All in all the next quarter release (October 28th) has the making of a large sp appreciation for BTE once the markets can see what one full quarter of Ranger production can do insofar as the FFO and FCF is concerned. Patience. Too bad Cobalt will be sitting on the sidelines as per his posts.
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