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Higher Crude Oil Prices Means Baytex Can Restart Most of Its Suspended Wells
Source: The Canadian Press, jwenergy.com, June 26 2020
The company will only restore half it’s 2020 capital spending plan.
Baytex Energy Corp. says it is responding to higher oil prices by bringing back on line some of the wells it had shut down in April and May to avoid selling into an oversupplied market.
The Calgary-based producer says it has restored about 20,000 barrels per day of the 25,000 bpd it had previously curtailed, thanks to improving profitability.
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