RE:RE:Persistent price suppression Baytex is like most of the CDN Oil producers, sqeeze with a high volatility of the WTI price. We all know and see that in the last 18 months.
But Institutionals still buy and grab shares at low cost and stick with their long term plan ! Look at W Buffet with OXY !
The energy sector cannot support a WTI price below 80$ and respect their commitment to their shareholders and lenders.
What next...Producers have to change again the way they are managing the business.
Drill Baby dirll is over !
US and CDN Gov must reduce interest rate, and Oil producers take the call to refinance LT debt at low rate, a rate of 1% less is 12,5% to discount of interest expense !
Reduce CAPEX by 15-20% reduce boe/d by 10%. Make a pressure too the supply side, like OPEC+ is on it's way to do it !
It was Baytex's idea with the Ranger Oil's assets. Seize sites and wells inefficient, increase the efficiency with their lateral drilling and their better way to dig wells.
Hope to have some update about those subjects with the YER 2023 coming feb. 28 !