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Baytex Energy Corp T.BTE

Alternate Symbol(s):  BTE

Energy Oil & Gas E&P
Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay / Viking) and Heavy Oil Canada (Peace River / Peavine / Lloydminster). Its Eagle Ford assets are located in the core of the liquids-rich Eagle Ford shale in South Texas. The Eagle Ford shale covers approximately 162,000 net acres of crude oil operations. Its Viking assets are located in the Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta. It also holds 100% working interest land position in the East Duvernay resource play in central Alberta.


TSX:BTE - Post by User

Baytex Energy Corp
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(2)
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Comment by Jmarks1on Dec 05, 2014 11:48am
250 Views
Post# 23199572

RE:RE:RE:RE:RE:RE:RE:Today's price drop

RE:RE:RE:RE:RE:RE:RE:Today's price drop
tvstock wrote:
Q2 ratios


Covenant Description Maximum Ratio
Position at
June 30, 2014
Bank loan
Senior debt to capitalization(1) (2) 0.50:1.00 0.46:1.00
Senior debt to Adjusted income(1) (5) (6) 3.00:1.00 1.96:1.00
Debt to Adjusted income(3) (5) (6) 4.00:1.00 1.98:1.00
Long-term debt
Fixed charge coverage(4) (5) (6) 2:00:1.00 0.10:1.00


Improved a bit indeed


Hmm Senior debt to capitalization dropped in Q3 to .42 
Problem is I'm not sure how CPG calculates shareholder equity.
Also it looks like if adjusted income drops 30% the bankers will be howling. 

The picture is becoming clearer as to why BTE is getting beat up. They no longer have the clean balance sheet they did before the last acquisition. I sure hope the worse case scenario they used when planning to buy Eagleford assets had a low enough oil price built in!




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