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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 Oct 15, 2021 4:50pm
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Post# 34012062

Friday Oct 15th - BTE weekend update

Friday Oct 15th - BTE weekend update

1. Fri Oct 15th - BTE bank another $1.95M+ FCF today, another $5.9M+ weekend Friday-Sunday

2. With fully factored hedges Free Cash Flow @ $82.55 & current pricing = $715+ million/year which is above the management plan. (Including a Clearwater estimate 100% unhedged!)

3. 13 Trading days before Q3 Results


4. Short interest 4%+ (increased Sept 15 through Sep 30th)
i. Short position Aug 31 - 22,186,348
ii. Short position Sep 15 - 22,380,069
iii. Short position Sep 30 - 23,046,469

 

5.
i. BTE Free Cash Flow Q1 = $70M avg WTI $52.09
ii. BTE Free Cash Flow Q2 = $112M avg WTI $62.71
iii. BTE Free Cash Flow Q3 = $TBD avg WTI $70.57
iv. BTE Free Cash Flow Q4 = $TBD avg WTI $72.50 (so far)

6. Q4 contracts 62.6% complete.

7. November contract settlement date in 4 days. Quickly moving to December contracts

Shareholder Strategic Focus. To BTE management. Keep doing what you're doing!

i. Focus on FCF
ii. 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.
iii. Buyback cheap shares complete a SIB not a NCIB (the cheaper the better)
iv. Issue a dividend
v. If Clearwater development can accelerate FCF, debt payment, share buybacks and dividends do it.
vi. Preferably in that order and keep within 80-85k bpd
vii. 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-%20October%20Presentation.pdf


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