February presentation is online.... some highlights
January : Market Capitalization / Enterprise Value (2) $2.2 billion / $3.8 billion
February : Market Capitalization / Enterprise Value (2) $2.7 billion / $4.2 billion
Enterprise value jump in 1 month for 400M$ !!!
Baytex debt free end of 2023 at 85$ WTI !! Page 12.
https://www.baytexenergy.com/files/pdf/corporate-handouts/2022/2022-02%20February%20Presentation.pdf
Small hedge so far for 4,500 bbl/d for 2023 Baytex receives WTI when WTI is between $71/bbl and $88/bbl. Page 14.
Northwest Clearwater - Promising Early Results with Strong Economics
Long life polymer flood at Seal.
Operations Update
• Eight producing wells at Peavine
• Successful Clearwater exploration well on Seal legacy lands in late 2021 with followup well in H2/2022
• Production increased from zero at the beginning of 2021 to > 3,000 bbl/d in January 2022, from 2,300 in december.
Q1/2022 Activity
• Three wells drilled in Q4/2021 brought onstream in January, including two wells on
the 14-36 pad adjacent to the highest rate well drilled to-date and one appraisal well
on the recently acquired 20 sections.
WTI Oil Price $65/bbl $75/bbl
Payout: 5 months 3 months
IRR: > 500% > 500%
Recycle Ratio: 3.7x 4.7x
Imagine at 85$/bbl...$$$