CONFERENCE CALL - NEXT CATALYSTConference call was clear with consistent messaging. Next catalyst will be update to the 5 year plan which must be approved by the Board of Directors and will be issued early Dec 21.
1. As noted by CEO, updated plan will include Clearwater production with 2021 - 8/9 wells and up to 18 wells - 2022 for a total of 26 wells in Clearwater by end 2022. Current average production on 5 wells is about 2000 boe/d.
2. At this time, Baytex will hold production about 80,000 boe/d until it sees the demand. However, it is prepared to grow if needed e.g stated Duvernay could be 20,000 boe/d if demand for oil is there and more could be added to Clearwater.
3. Results of new wells in Clearwater and Duvernay will be made public in Dec 21.
Staying long.