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.

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Baytex Energy Corp > Debt Target & Shareholder returns

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Comment by BayStreetWolfTOon Jan 14, 2022 12:39pm

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Post# 34317552

RE:Debt Target & Shareholder returns

To simplify a $10 change in oil accelerates 3 months roughly

BayStreetWolfTO wrote: Just some perspective.

Back in Sept the Management team discussed "As we sit today we would be very focused on buying our shares back at some level in the first half of the year""

So where are we now?

When that comment was made oil was $70 so simple math

Debt Sep $1.564B
FCF Sep-Jun @ $70 = $365M
Debt Jun $1.200B (target reached & commencement of shareholder returns)

HOWEVER OIL HAS NOT BEEN $70 SEP-FEB

Impact of $80 oil (with unknown production change on Clearwater)

Debt Sep $1.564B
FCF Sep-Mar@ $80 = $365M
Debt Mar $1.200 (target reached & commencement of shareholder returns)

So the difference between $70 and $80 is the difference between June and March (not including Clearwater additional production which is being drilled at a good pace as you can see from my prior posts)

Who knows what we see Feb 24th...but it will be interesting.

All I know is there is LOTS of Clearwater activity so for me that is exciting!