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

Bullboard Posts

Post by 101Stockhouseon Sep 24, 2019 6:42pm

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Post# 30160969

Baytex director Olson steps down

2019-09-24 18:20 ET - News Release

Mr. Brian Ector reports

BAYTEX ANNOUNCES BOARD AND MANAGEMENT CHANGES

Baytex Energy Corp. has made changes to its board of directors and management team.

Board of Directors

Baytex has an ongoing board renewal process led by its Nominating and Governance Committee. In the last year, we have significantly restructured our board. Throughout this renewal process, our intent has been to create an efficient, diverse and independent board with complementary skill sets suited to our business.

As previously highlighted, Baytex welcomed Jennifer Maki as a director on September 9, 2019. As part of our renewal process, Jennifer Maki has been appointed to the Audit and Human Resources and Compensation committees while Kevin Olson has stepped down from the board of directors to concentrate on his other business ventures. Baytex would like to thank Mr. Olson for his time and effort on the board.

Management

Baytex is committed to driving further efficiencies in our business as we execute on our plan to deliver profitable oil production and substantial free cash flow.

Following a thorough review of our organizational capabilities, we are streamlining our management team. Jason Jaskela, Executive Vice President and Chief Operating Officer, and Jonathan Grimwood, Vice President, Exploration, are no longer with the corporation. We wish to thank them both for their efforts and achievements over the past year in assisting with the seamless integration of Baytex and Raging River. Our operating business units will now report directly to Ed LaFehr, President and CEO.

2019 Guidance

Our operating performance remains strong. Consistent with our September 9, 2019 press release, we continue to forecast 2019 average production of approximately 97,000 boe/d (83% oil and NGL) and expect to exit 2019 producing 95,000-97,000 boe/d. We are forecasting exploration and development expenditures for 2019 of approximately $560 million.

Baytex Energy Corp.

Baytex Energy Corp. is an oil and gas corporation based in Calgary, Alberta. 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. Approximately 83% of Baytex's production is weighted toward crude oil and natural gas liquids.