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 > $ 60 M INSURANCE Policy On Tax DISPUTE Shows HIGH RISK

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Comment by WaterDPlantson Dec 06, 2023 11:19am

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Post# 35771021

RE:$ 60 M INSURANCE Policy On Tax DISPUTE Shows HIGH RISK

A person going to court never says they are going to lose. If losing is a high probability, a settlement is pursued.

Baytex settled the case and paid $60M. The $60M may even be a tax deduction, the $212M insurance proceed may be income (something for the next dispute with the tax authorities).

However, this matter from a financial standpoint is complete. Baytex got a $160M tax deduction years ago and paid $60M today.

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