Danger Zone: Coming Shale Growth Poses Major Risks to Oil Prices
OPEC's production cuts and strong demand growth have 2017 crude fundamentals in their best shape since oil prices crashed two years ago. The consensus outlook is that fundamentals are now strong enough to remain healthy even after OPEC's cuts lapse. This might have been possible a few months ago, but the odds of this scenario playing out have markedly worsened since. The reason is that major increases in shale activity now have U.S. production firmly on a path of rapid growth, even if rig counts...Baytex Energy is a conventional oil and gas company engaged in the acquisition, development and production of petroleum and natural gas in the Western Canadian Sedimentary Basin and the United States. As of Dec 31 2010, total proved reserves for light and medium oil consisting of 18,416 thousand barrels gross (15,335 thousand barrels net), heavy oil consisting of 104,978 thousand barrels gross (87,384 thousand barrels net), natural gas liquids consisting of 2,825 thousand barrels gross (2,015 thousand barrels net) and natural gas consisting of 83,800 million cubic feet gross (70,300 million cubic feet net).
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