Post by
Wildfury on Apr 03, 2023 6:12pm
BTE - CPG- WCP - OVV
Baytex energy, Cresent point energy, Whitecap resources have all made acquisitions, first Whitecap, XTO purchase 1.9 billion, Baytex purchase of Ranger oil, 2.5 billion, Cresent point energy, 1.7 billion purchase of Spartan delta, and recent purchase by OVINTIV for 4 billion. All Canadian oil & gas producers. All three companies trade in double digits figures except for Baytex but keep this in mind, BTE, CPG, WCP daily production will be very similar in numbers. What sets Baytex apart is the close proximity to export to US ports with a premium WTI pricing compared to WCS pricing. Baytex was dealt a terrible media/. analysts downgrades without merit, this was a result of the banking sector meltdown with a $10 drop in WTI pricing. Today oil is back to $80 and Baytex is still under $5.50. CPG, WCP are back to their $10-$11 trading range, what's wrong with this picture? Baytex should be trading in the $7 range, I'm expecting this to reach that price within a few weeks, don't forget, May 04 2023, Baytex reports first quarter earnings.
Comment by
clamlinguine on Apr 04, 2023 11:47am
I guess none of these companies was worth a bleep before the acquisitions.