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 > Any risk of going under here?

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Comment by Kelvinon Dec 17, 2024 9:59am

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Post# 36366039

RE:Any risk of going under here?

Some say that the selling pressure is due to "long covering". From Google AI Overview:

AI Overview

In the stock market, long covering, also known as long unwinding, is when traders sell or close their long positions in stock futures. This can happen for a variety of reasons, including: To lock in profits, To reduce exposure, and To respond to market conditions or volatile sentiments.

Long covering causes prices to fall due to increased selling pressure.

Here are some other terms related to long positions in the stock market:

Long position

When an investor buys a stock, betting that its price will rise in the future.
Long-term position

When an investor holds a security for an extended time, beyond the average.
Covered call

An option strategy where a trader holds a position on a stock and sells a call option on the same security.
Long cover order

When an investor purchases stocks of a company through a cover order.