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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 / 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

Bullboard Posts
Comment by skygardenon Jun 15, 2020 11:09am
146 Views
Post# 31151083

RE:Or off ny

RE:Or off nyThey basically have 6 months from March. It does not affect TSX listing. Here's excerpt: News Press Releases BAYTEX RECEIVES NYSE LISTING NOTIFICATION T.BTE | March 25, 2020 CALGARY, Alberta, March 25, 2020 (GLOBE NEWSWIRE) -- Baytex Energy Corp. (Baytex) (TSX, NYSE: BTE) announced that it received notification on March 24, 2020 from the New York Stock Exchange (NYSE) that Baytex is no longer in compliance with one of the NYSEs continued listing standards because the average closing price of Baytexs common shares was less than US$1.00 per share over a consecutive 30 trading period. The issuance of the notification is not discretionary and is sent automatically when a listed companys share price falls below the NYSEs minimum price listing standard. Under the NYSEs rules, Baytex can avoid delisting if, within six months from the date of the NYSE notification, its common shares have a closing price on the last trading day of any calendar month and a concurrent 30 trading day average closing price of at least US$1.00 per share. If at the expiration of the applicable six month cure period Baytex has not regained compliance, the NYSE will commence suspension and delisting procedures. The NYSE can also commence accelerated delisting action in the event Baytexs common shares trade at levels viewed by the NYSE to be abnormally low, which the NYSE has advised is typically below US$0.16 per share. At this time, Baytex does not expect to propose a share consolidation as a means of curing the deficiency. Non-compliance with the NYSEs price listing standard does not affect Baytexs business operations or its reporting requirements to the U.S. Securities and Exchange Commission (the SEC), nor does it affect the continued listing and trading of Baytexs common shares on the Toronto Stock Exchange (the TSX). Baytexs common shares will continue to be listed and traded on the NYSE during the applicable cure period, subject to continued compliance with the NYSEs other continued listing standards, under the symbol BTE, but the NYSE will assign a .BC indicator to the symbol to denote that Baytex is below the NYSEs price listing standard. This indicator will be removed at such time as Baytex is deemed compliant with the NYSEs price listing standard. Advisory Regarding Forward-Looking Statements In the interest of providing Baytex's shareholders and potential investors with information regarding Baytex, including management's assessment of Baytex's future plans and operations, certain statements in this press release are "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). In some cases, forward-looking statements can be identified by terminology such as continue", "could", "estimate", "expect", "forecast", "intend", "may", "ongoing", "outlook", "potential", "should", "target", "would", "will" or similar words suggesting future outcomes, events or performance. The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement. Specifically, this press release contains forward-looking statements relating to but not limited to: that if at the expiration of the applicable cure period Baytex has not regained compliance or if Baytex shares trade at abnormally low levels, the NYSE will commence suspension and delisting procedures; Baytexs expectation that it will not pursue a share consolidation; that non-compliance with the NYSEs price listing standard does not affect Baytexs business operations, its reporting requirements to the SEC or the continued listing and trading of Baytexs common shares on TSX.
Bullboard Posts