Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Bullboard - Stock Discussion Forum 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... see more

TSX:BTE - Post Discussion

Baytex Energy Corp > Bte versus CPG
View:
Post by JohnnyDoe on Aug 29, 2023 7:08am

Bte versus CPG

Anyone compared these companies lately? 
CPG market cap is 25% higher than BTE's market cap. CPG historically was a much larger producer. Baytex closed the Ranger acquisition in June. CPG recently announced the disposition of their N. Dakota assets for about 675M with proceeds going to debt. 

So, where do these transactions leave the companies in 2024? Bte is forecasting production at 155-157 a day, CPG looks like they'll be in the low to mid 140s. With CPG using the proceeds from disposition to pay down debt, they're saying they're going to exit this year around 2.2B in debt which is where bte is going to be. 

I'm certainly not looking for my CPG shares to take a big haircut. I think bte has some catching up to do because they're outproducing CPG with similar debt levels.
Comment by dandu1924 on Aug 29, 2023 8:23am
Shares out CPG around 536 M and BTE  around 862 M, this is probably the tricky stuffs. Any comments.
Comment by JohnnyDoe on Aug 29, 2023 11:22am
I don't think the sharefloat matters much. I was comparing market cap. BTE's debt to production is lower than CPG's. It really should have a market cap that is equal to or better than CPG. Maybe the dividend CPG is paying helps. 
Comment by Nothingmatters on Aug 29, 2023 9:35am
Bte will catch up soon...dor me most undervalued play in oil
Comment by masfortuna on Aug 29, 2023 12:58pm
I own both Johnny and I think BTE will outperform cpg over the next year. They need 1 ull quarter of oil above $80 and the Ranger numbers to show the market what they can do.
Comment by jack4567 on Aug 29, 2023 2:18pm
Q3 may be that quarter:  it will have Ranger numbers in, and WTI should average $80, or very close.
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities