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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 riskion Jan 17, 2024 11:03pm
221 Views
Post# 35832782

RE:RE:RE:RE:Baytex acquired more land

RE:RE:RE:RE:Baytex acquired more land

The price of oil hasn't changed for months. The stock prices are going down because retail is scared, but the company revenues are the same.

In addition, the commodity markets are well known for having a large speculative component. That speculative component is people guessing where supply and demand are going to land months from now.

Current oil stocks are at or below their five-year lows. Distillate stocks are still well below historical levels. 


What we are seeing in the commodity market for oil is a lot of guessing. Some people are very bullish, some are bearish, and they are sawing things off at 72–74 WTI. 

Builds in oil and product stocks are expected at this time of year to prepare for the Driving season starting in May. So under building at this time of year can be quite bullish. 

I don't see any evidence that we are awash with oil. I see considerable evidence of the opposite, and potential for upside risk premium from wars in multiple places around the world.

Place your bets as you see it. I'll place mine. 


Realdude wrote: Riski are you 4 years old. Oldest and perhaps only rule in business is supply vs. Demand. Right now too much supply hence oil price correction from $100 ish to $70 and going lower. That's proof. 

 

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