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...

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