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Baytex Energy Corp T.BTE

Alternate Symbol(s):  BTE

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

Bullboard Posts
Post by RuprtMorduchon Jul 29, 2016 8:35am
149 Views
Post# 25094857

Important matter to consider

Important matter to consider

In Q2/2016, we entered into an agreement to dispose of our operated assets in the Eagle Ford for approximately $55 million. Production from these assets is currently 1,000 boe/d and the disposition includes reserves of approximately 1.26 million boe on a proved plus probable basis (as evaluated by Ryder Scott Company, L.P. at December 31, 2015). This production has a lower netback than our other Eagle Ford barrels due to small economies of scale. The Eagle Ford transaction closed on July 27, 2016. In addition, we anticipate closing dispositions relating to an additional 1,250 boe/d of certain non-core assets in Canada. These transactions are expected to close during the third quarter. 

I want to see more disposition of the Canadian asset for a good price. Probably 40-50M Canadian Per 1,000 Boe/D and pay down the debt and be able to work with eagle Ford. 
Bullboard Posts