Baytex Energy Corp T.BTE

Crescent point buys Hammerhead Energy

[Retiredgeo]

Crescent Point solidifies Montney dominance in $2.55B deal for Hammerhead Energy - BNN Bloomberg

[red2000]

They paid 2,5B$ for 46,000 boe/d !!!  Baytex paid same amount for minimum 70,000 boe/d, with much better advantage ! CPG will fall down tomorrow ! No ?

[Wildfury]

Red, if CPG doesn't have a sell off like BTE experienced after the Ranger deal it wouldn't surprise me at all. Tourmaline bought Bonavista, did it tank, no... There's something about Baytex the market just doesn't like. They should have ditched the Baytex name when they merged and kept the Ranger oil name. Baytex paid $43 US plus per share, took over all debt, increased their

[kavern23]

CPG should sell off..Hammerhead still has natural gas in their prodution base alot of it even if oil in wells.  Hammerhead's financials look way better because they are hedged until end of year at really good prices for some. Even though Hammerhead has goos drilling locations, they sold out before any down cyle in NG. Low NG prices hurts payback time. Simple as that. I think CPG should

[kavern23]

But bought deal that CPG did that likely will pressure share price down tomorrow alot. Thats why WCP prob avoided this, sucks having to issue shares right now as it take all momentum in share price.

[1234bmth]

If CPG drops tomorrow which I don't think unless oil drops, I'll load up this stock, the deal looks good to me, it is only 5% premium and mostly in cash, diluting only around 50M shares, this deal is completely different than BTE and Ranger Oil.