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Stock impact report

Why Baytex Energy Jumped 30% in 1 Week [Yahoo! Finance Canada]

Baytex Energy Corp Common Shares (BTE) 
Last baytex energy corp common shares earnings: 3/4 06:30 am Check Earnings Report
Stocks climb and fall each day. That's a normal part of investing. But when stocks jump or fall by large amounts, it raises eyebrows. Baytex Energy TSX:BTE ) is one such example. As of the time of writing, Baytex Energy has jumped a whopping 32% this week. Here's a look at what's fueling that incredible rise. Meet Baytex For those unfamiliar with the stock, Calgary-based Baytex Energy is an oil and gas producer with a focus on developing and extracting crude and natural gas from the Western Canadian Sedimentary Basin. Up until this week, the company also had a large presence in the U.S. market through its Texas Eagle Ford presence. So then, why the jump? That 32% surge is fueled by a key development this week. Baytex Energy announced it was divesting its entire U.S. Eagle Ford presence through a $3.25 billion deal. Proceeds from that sale are expected to shore up Baytex financially. Specifically, the sale will let Baytex repay all outstanding credit facilities and 2030 Show less Read more
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