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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

Comment by dllscwbysfnon Jan 18, 2023 8:37am
186 Views
Post# 35230092

RE:RE:RE:RE:US dollar debt

RE:RE:RE:RE:US dollar debtThe debt stayed the same from Q2 to Q3. I cannot see anywhere that they paid debt in Q3 but find it easily in Q2. In Q3 they had 112M in FCF and bought back 79M in shares. So the 33M difference kinda got soaked up in FX loss???
  End of  Q3 the Cdn$ was .723
  End of  Q4 it was .7378
JohnnyDoe wrote:
dllscwbysfn wrote: You speak with confidence and i hope you are right. I only ask for an opinion on this because they did not pay any debt in Q3
Tradestay wrote: Yes they would have paid debt. At $80 WTI net debt will be below $800 by May 2023 and down to $400M by May 2024. 

At $800M return to sharholde4 goes to 50% so they will reduce the debt paying pace and accelerate share buyback. 

They are projecting free cash flow of $450M at $76 WTI FPR 2023. 




If I remember correctly it wasn't that they paid no debt, it was that the US dollar strengthened so when the debt was reflected on the books in cdn currency, it appeared as though nothing was paid. Or am I off base on that? 

  Today we are .747
I thought we had discussed that FX was in our favour when the US$ was strong every day except the last day of the Q when it reflects the debt in US$
 This is why i was asking if anybody had thoughts on debt repayment at the end of Q4. Is there a magic # when FX is high enough to pay off US debt?
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