Bullboard - Stock Discussion Forum 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... see more

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TSX:BTE - Post Discussion

Baytex Energy Corp > Down but not out !

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Post by red2000 on Aug 08, 2022 2:24pm

Down but not out !

Goldman out pounding #oil table again Clint Eastwood style. The good, bad, and ugly. The ugly? Higher retail prices have not curbed demand enough. Demand destruction has yet to arrive, higher prices are still coming.

GL Longs !

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Comment by BayStreetWolfTO on Aug 08, 2022 2:31pm

Red, I have come full circle on this and realize it just doesn't matter. We would like stable oil long-term say $70-90.... The guys like Goldman and CITI want wild swings. They make money on those wild swings which is why they push it. If we hang out here at $90 for 5 years I will be able to help a lot of people. At this point I don't want $125 for 2023 Just my thoughts.

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Comment by dllscwbysfn on Aug 08, 2022 4:48pm

lol, "At this point I don't want $125 for 2023" . Wow, I would take 125 all day long. Imagine all of 2023 at 125. Every issue would be gone, the following year the hedges would be great.I really do not want to wait 5 years to make a sh!! load, I would prefer to make it now or even next year at 125. You prefer 90 now that is funny.

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Comment by BayStreetWolfTO on Aug 08, 2022 5:02pm

DL, I just think at $120 you get all the political garbage that attracts problems such as windfall taxes among many other issues we saw. Now if you could hold the 321 crack to $20 than I would say ok $110 but we have a refinery issue. Did you know our 12 months rolling average is $90.46? Baytex has done very well over the past 12 months. At $90 they have a strong yield in 2023 and going forward. ...more

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Comment by dllscwbysfn on Aug 08, 2022 6:07pm

You can spin it any way you want but I will easily and always take wti at 125 over 90. Looks like my blood pressure, lol.

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Comment by BayStreetWolfTO on Aug 08, 2022 6:17pm

Ha, your BP is better than mine! Yeah sure if you could guarantee $125 I would take it. What I was thinking obviously not communicated properly is I would take a guaranteed $90 over a volatile $70-$120 (what we have seen in the last 12 months) If you gave me the option to hedge 100% of current volume for 5 years @ $90 I would be very tempted. But again that's just me.

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