Q3 ...17% done. Macro oil data continues to support BTE plan16 days (>17%) into Q3 and it's nice to see WTI hovering around $72.50.
Per webcast $65+ is gravy
Including hedges
$55=$1.0b
$60=$1.5b
$65=$2.0b
Priority #1 pay out the $400m notes from 2024 when terms allow. Should have cash EOY
Priority #2 Share buybacks
Priority #3 Dividend
All this while holding production in the 5 year plan range. With Clearwater Q3/Q4 funds allocated, exploit to increase FCF for the debt.
Keep progressing!
Reference: https://www.globenewswire.com/news-release/2021/06/01/2239867/0/en/Baytex-to-Present-at-RBC-Capital-Markets-2021-Global-Energy-Power-Infrastructure-Conference.html