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Baytex Energy Corp T.BTE

Alternate Symbol(s):  BTE

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

Post by red2000on Nov 11, 2021 5:53pm
402 Views
Post# 34117209

Clearwater county data - Tip of the Iceberg !

Clearwater county data - Tip of the Iceberg !
Look at this map from Headwater exploration !
Page 11 : https://headwaterexp.com/wp-content/uploads/2021/11/Oct-21-Investor-Presentation-FINAL.pdf
 
Some production number of producer in the area of Clearwater county.
 
Baytex already produce more bbl/d in only 3 months compare to RHE, Crestwind, CNQ !
Already 50% of Tamarack Valley in this area !

More wells coming fast, Baytex increase Capex in Q3 !!! Read below :
 
2021 Outlook
As a result of our strong operating performance through the first nine months of 2021, we are tightening our production guidance to 79,500 to 80,000 boe/d, up from 79,000 to 80,000 boe/d, previously.

We are intensely focused on maintaining capital discipline. The Clearwater has emerged as one of the most profitable plays in Canada and our 2021 appraisal program has delivered exceptional results. As a result, we will drill four additional Clearwater wells during the fourth quarter which are expected to be on-stream in late 2021. Accordingly, we are tightening our forecast 2021 exploration and development expenditures range to $300 to $315 million, as compared to $285 to $315 million, previously.

At current commodity prices, we expect to deliver over $400 million ($0.71 per basic share) of free cash flow this year, which has accelerated our debt reduction efforts.

THIRD QUARTER HIGHLIGHTS
Exploration and development expenditures were $94.2 million for Q3/2021 and were focused on our Canadian operations where we spent $75.5 million. In Canada, we drilled 19 (18.7 net) heavy oils wells, including 2 (2.0 net) additional appraisal wells in our developing Clearwater play and 26 (25.0 net) light oil wells during Q3/2021 which resulted in production of 48,124 boe/d that increased 919 boe/d from Q2/2021.

Please do your DD, it's your money !
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