Clearwater to be included in 5 year plan update December!
Great news de-risked 20 sections so far potential 200 sections...
Game changer.....add this to the FCF $$$'s
Shorts are REALLY running out of time....this will accelerate everything!!!
"As part of our 2022 plan, which is to be confirmed and released in early December 2021, we are working with the Peavine Mtis Settlement and are preparing to drill up to two additional Clearwater wells in late 2021 and execute an expanded program of 12 to 18 wells in 2022. To-date, we have de-risked 20 sections and pending further success, believe the play now holds the potential for greater than 200 locations. We will update our five-year plan in December to include Clearwater activity. At current commodity prices, the Clearwater generates among the strongest economics within our portfolio with payouts of less than six months and has the ability to grow organically while enhancing our free cash flow profile. We remain committed to maximizing free cash flow and accelerating our balance sheet deleveraging, with the goal of delivering meaningful returns to shareholders. "
https://www.baytexenergy.com/files/pdf/news-releases/2021/2021-09-01%20-%20Baytex%20Provides%20Update%20to%202021%20Clearwater%20Appraisal%20Program.pdf