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.

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Baytex Energy Corp > Fitch Upgrades Baytex Energy on Absolute Debt Reductions

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Post by Drifter133on Apr 06, 2022 1:26pm

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Post# 34581206

Fitch Upgrades Baytex Energy on Absolute Debt Reductions

Vanguard Fitch Upgrades Baytex Energy on Absolute Debt Reductions

	04/06/2022 12:38 PM EDT

	12:38 PM EDT, 04/06/2022 (MT Newswires) -- Fitch Ratings said Wednesday that it has upgraded Baytex Energy Corp. (BTE.TO) long-term issuer default ratings to B+ from B and its senior unsecured ratings to BB-/RR3 from B/RR4. The rating outlook is stable. The ratings reflect its absolute debt reductions consistent with the company's "Five-Year Outlook," its improved leverage, diversified asset base and free cash flow profile. The rating also took into the company's relatively lower proved reserve base, the non-operated status of its Eagle Ford assets, and exposure to heavy oil differentials.