Baytex Energy Corp T.BTE

Long Term Targets

[CoachAmI]

I know that our long term debt target is $400 million.  Does anybody know our long term target for share buybacks/outstanding shares?

[JohnnyDoe]

That's a great question and not one I've seen answered Here's what we do know.  Phase 1 = 75% debt, 25% buybacks. To pay off the 200 M in debt from 1b to 800M at 75%, they need roughly 265fcf, so there's 65 to buybacks.  Phase 2  = 50/50 debt buybacks. So that's easy. 400M each way.  So that's 465M in buybacks. How many shares is that? At an

[CoachAmI]

Thanks for the breakdown.  Very helpful.

[Lina_Casa]

I've said it before and I'll say it again.  Forget the share buybacks and just pay off the debt.  The buybacks have not made a dent.  Remember, they are capped in the amount of shares they can actually buy in a year.  So how many years will it take of buybacks that alone would increase the share value in a significant way?  Pay the debt, then start a dividend. 

[red2000]

Long term debt calculation from Eric Nuttall WTI at 90$, strip nat gas and USD/CAD exchange WCS diff at 20$ for 2023.

[JohnnyDoe]

Red that chart is a little misleading in my view. It presents what Nuttal wants you to see or the story he's trying to tell, but it doesn't present the story that oil companies are telling.  Nuttal is presenting what happens if all fcf less base dividends is used to pay off debt. That deliberately doesn't consider any of the companies shareholder return plans, almost all of which

[David01montreal]

This post has been removed in accordance with Community Policy

[dllscwbysfn]

Nuttal's charts are quite often a little misleading. Usually his charts are based on $100 WTI. If we were to get an average of $90 WTI until the end of Q1 of 2024 we would likely hit the $400m in debt and around 460 in shares. I would be very pleased if it played out like that.

[masfortuna]

Nuttal is a "salesman". His job is to hype oil and will present his buying points with the best case scenario front and center.  The last time h was on BNN, ALL his comments/numbers were based on $100 oil and how each company could privatize using fcf in a couple of years. A good investor needs to see the possible downside in order to make proper decisions. FYI He has trimmed his 10

[MoreCarbon]

Big Ex's quote was: buybacks will stop when they feel that the SP reflects the true value of the company. Cheers,