Baytex Energy: Narrower WCS Differentials Partially Offset Lower Oil Prices
Baytex Energy (BTE) Seeking Alpha·2024-06-06 10:48
zhengzaishuru Baytex Energy (NYSE:BTE) (TSX:BTE:CA) reported solid Q1 2024 results that were in-line with expectations and left its full-year guidance unchanged. Baytex is now benefiting from the completion of the Trans Mountain Pipeline expansion, which has reduced the WCS differential by around US$7 compared to Q1 2024. However, WTI oil prices have declined a bit after OPEC's decision to gradually reduce its oil production cuts. Since Baytex's oil hedges only offer protection if WTI prices fall below ...