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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 Kelvinon Sep 10, 2024 11:41am
122 Views
Post# 36216737

RE:RE:RE:RE:No good sign

RE:RE:RE:RE:No good sign I could never understand how hedge, private equity or market makers can manipulate the oil price. It's determined on the futures market where you have to deliver and not the options market where you have an option to deliver or not. So, say Goldman Sachs wants oil price to go up to $90. They promise to deliver "x" amount of barrels at $90 six months from now. Who would buy their contract? Nobody. Say that GS wanrs the oil price to drop and they offer oil at $50. Who wants to buy that contract? Everybody. So GS sells a futures contract for $50 for delivery six months from now but oil six months from now costs $65. So they buy oil at 65 to sell at 50. They're not crazy. So how do these guys manipulate anything? I'd like to know. 
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