Quite a bit has changed at Baytex Energy (NYSE:BTE) since I last wrote about the company in December
of 2013. As I thought it might, the company did in fact agree to a sale
of its North Dakota Bakken acreage and also acquired new acreage. The
surprise was where the company bought - instead of expanding its
high-return heavy oil acreage, the company acquired some very quality
acreage in the Texas Eagle Ford. Although that Eagle Ford acreage didn't
come cheap, Baytex has diversified its production base, acquired
exposure to a high-quality growth play, and improved its overall
position. Baytex still isn't the cheapest oil stock out there, but the
company relatively lower-risk asset base and high yield still make it a
name worth considering.
Follow this link to the full article:
Baytex Energy Is Following A Good Plan
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