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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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Post by BayStreetWolfTOon Sep 03, 2021 4:00pm
130 Views
Post# 33810618

1of2 - Friday Sep 3rd - BTE end of day/weekend update

1of2 - Friday Sep 3rd - BTE end of day/weekend update 
Topics: 1. Current Day FCF, 2. Yearly FCF, 3. WTI Trend, 4. Current Quarter Contracts, 5. Shareholder Strategic Focus.
 
  1. Fri Sep 3rd - BTE banked another $1.28M+ FCF today. BTE will bank another $5M+ long weekend Fri-Mon!!
 
  1. With fully factored hedges Free Cash Flow @ $69 = $465 million/year which is above the management plan. (EXCLUDING CLEARWATER)
 
  1. WTI is final for Q3. We are now on the Q4 / October Contracts. Not including improved hedges or Clearwater see historical trend below
 
  1. BTE Free Cash Flow Q1 = $70M avg WTI $52.09
  2. BTE Free Cash Flow Q2 = $112M avg WTI $62.71
  3. BTE Free Cash Flow Q3 = $TBD avg WTI $70.57
  4. BTE Free Cash Flow Q4 = $TBD avg WTI $67.57 (so far)
  5. Negative talk on $52 WTI is nonsense. At this rate they still brought in $70 Million for the quarter and this excludes Clearwater and improved hedges
 
  1. Q4 contracts 19.8% complete. It's nice to see WTI hovering over $69.
     
  2. Shareholder Strategic Focus
    1. To BTE management. Keep doing what you're doing!
      1. Focus on FCF (465+m per year at these prices)
      2. Pay down debt (down to $1.4b this year wow!) Clear off the 2024 note on June 1st 2022 as soon as the agreement allows.
      3. Buyback cheap shares complete a SIB not a NCIB (the cheaper the better $2 great, $1 awesome, $0.50 I will be competing on those buys!)
      4. Issue a dividend
      5. If Clearwater development can accelerate FCF, debt payment, share buybacks and dividends do it.
      6. Preferably in that order and keep within 80-85k bpd
      7. Ignore the share price focus on the enterprise strategy, operations, and efficiency.
 
With this you will find 100% support

Reference: https://www.baytexenergy.com/files/pdf/corporate-handouts/2021/2021%20-%20September%20Presentation.pdf

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