RE:RE:EAGLE FORD ELEPHANT IN THE ROOMI should add that CEO Eric Greager was prompted to give this reply about Eagle Ford at recent investors presentations. It was not part of Baytex's core presentation. An investor asked if they were considering any M&A activity, and he replied that they might look at Eagle Ford if something came up.
So there does not appear to be a formal change in the 5 year plan at the executive level.
riski wrote: Yes, I was concerned so I went straight to the source at IR. The response I got earlier this week was that they continue to be focused on organic growth of their top tier properties, debt reduction, and share buybacks as per the 5 year plan.
They would consider additional assets in the Eagle Ford only if they were exceptionally accretive.
Basically this is not different than any oil company out there. All of them always have their ear to the ground for anyone selling assets in their working areas which may lead to increased shareholder value by adding production to existing in-use infrastructure resulting in realized efficiencies and economies of scale savings.
I think it's unlikely that anyone is selling Eagle Ford property for some kind of bargain given that pretty much the entire industry in anticipating $100+ WTI this year.
No longer an elephant. Now just a mouse.
65F09A wrote: Nobody going to mention that 'Greager may be on the hunt for an Eagle Ford acquisition'? How many investors are here because they are hoping for more Eagle Ford exposure? More shares or more debt? I sure hope the new guy, with nothing to lose, is not planning to kick the can down the road a few extra years.