Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Baytex Energy Is Following A Good Plan

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...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details