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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 ztransforms173on May 15, 2024 2:32pm
123 Views
Post# 36041666

CHEVRON BUYS AFRAMAX IMO COLD LAKE Via TMX To CALI Refinery

CHEVRON BUYS AFRAMAX IMO COLD LAKE Via TMX To CALI Refinery - SHIPPING FEE is PRETTY CHEAP @ USD 1.63 per barrel

^^^


Chevron books Aframax for TMX cargo to California

  • Market: Crude oil, Freight
  • 13/05/24

Chevron provisionally hired an Aframax to haul a cargo of crude from Vancouver, British Columbia, to the US west coast as the Trans Mountain Expansion (TMX) brings more oil to Canada's Pacific coast.

Chevron put the Aframax Garibaldi Spirit on subjects for a Vancouver-US west coast voyage loading from 25 May at WS125, market participants said. That rate is equivalent to $11.16/t or $1.63/bl for heavy sour Cold Lake, according to Argus data.

The US west coast historically has been the main destination for crude exported from Vancouver, with 96pc, or about 38,500 b/d, landing at ports in Washington and California in the 12 months ended 30 April, according to data from analytics firm Vortexa. Chevron purchased five cargoes from Vancouver for its 269,000 b/d refinery in El Segundo, California, during that span, most recently in February.

The 590,000 b/d TMX project began commercial service on 1 May, tripling the capacity of the Trans Mountain pipeline system to 890,000 b/d. The line creates a larger link from Alberta's growing oil sands production to the west coast port of Vancouver and direct access to Pacific Rim markets, where buyers are eager for heavy sour crude.

The first TMX cargo, 550,000 bl of Canadian Access Western Blend which Suncor booked on an Aframax in late April, will load between 18-24 May for June delivery in China.

PetroChina and Unipec each control an Aframax near Canada's Pacific coast that would be available to load in Vancouver in the second half of May, though those ships could also be relet to deliver crude to the US west coast.

The port of Vancouver's distance from many traditional Aframax trading routes may stretch the global fleet once TMX ramps up. The port cannot accommodate tankers larger than Aframaxes.


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