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 masfortunaon Dec 03, 2023 7:57pm

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Post# 35766268

Q1

The cuts mean that the surplus everyone was forecasting for the first quarter of 2024 has now disappeared. In its place will be a deficit, though small.

ING Bank sees this coming first-quarter deficit as lending some upside to oil prices. With that in mind, ING sees some upside in its current $82/barrel forecast for the quarter and its $88/barrel full-year 2024 forecast.

Whether there is actually an upside, says ING, “largely depends on how OPEC+ goes about unwinding these cuts and obviously on how demand plays out next year”.