Energy companies come in all sizes and shapes. Some are vertically integrated and large like Shell and Exxon, some are small and very specialized in their particular field. Others are mostly in the business of finding gas and again others in the business of finding oil ( the two go hand in hand only to a certain degree). Some are “service” companies such as Schlumberger or Precision Drilling and again others are more or less utilities delivering the stuff to the consumer, like Enbridge. Consequently they all behave differently but in the main all have lost about 5-10% of their value since oil came of the $86 or so level a few weeks ago – EXCEPT this one, Baytex (and Enbridge). Not sure why that is exactly but it is a sell here or on the next dollar up, as it will double top like IVN above. This is not a certainty but it does happen too often to ignore and I have yet to meet the guy that lost money taking profits.
