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 269,000 gross 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

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Comment by blackaceon Jan 24, 2018 6:59pm

265 Views

Post# 27427872

RE:BTE Production Mix

Thanks.

Ok, so to sum up: 51% (U.S. operations) are exposed to WTI or close to it. Great!

The balance (49% in Canada): 38% of 49% Heavy Oil (0.38 x 0.49 = 0.186, or 18.6% exposure to WCS pricing. Ok, so for everyone, Baytex's exposure to WCS pricing is only 18.6% of there overall Canadian production. This is not as bad as people are making it out to be. Light oil exposure (0.30 x 0.49 = 15% has a current price of $58.22.

So in summary for 80% Liquids:
U.S. = 51% exposure to WTI ($65.00)
Canada = 19% exposure to WCS ($40.00)
15% exposure to LSC ($58.00)
6% nat gas liquids

Tell me if I'm wrong.

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