Baytex Energy Corp T.BTE

BC O&G royalty increase...time for companies to exit BC

[BayStreetWolfTO]

So once investors recoup the original Capex you take the rest. Why invest? Almost double upfront royalty until pay out and massive hike after....thabk goodness Baytex doesn't invest in BC!!! Everyone better look at their names for BC risk exposure!



B.C. overhauls oil and gas royalty system by changing 'broken system' of subsidies

The new royalty system will apply to all new wells and will be phased in starting Sept. 1. 

 

The province says it expects the new program to be in full swing by September 2024, when a minimum royalty rate of five per cent will be in effect. Right now, the royalty rate is three per cent;

Under the new system, companies will pay a flat five per cent royalty on revenue until they reach the amount the company spent to drill the well. Royalties could rise to up to 40 per cent, once drilling costs are recovered.

https://www.cbc.ca/news/canada/british-columbia/bc-phase-out-fossil-fuel-subsidies-1.6459562

[buylow]

WOW!!! By by BC. Money is fluid. Most companies will go where investment returns are best. Hey it's BC, they can drive bicycles and EVs. That's what they want anyways. Enjoy the ride BC.

[Cobalt]

"Everyone better look at their names for BC risk exposure!" Thanks i did , all outperforming BTE big /shrug to the markets

[KarlMarx1]

Hey Wolf.  Did you expect anything less than a big squeeze from the BC NDP?  LOL