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 > Upgrade to ratings b+ and bb-

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Post by 2021Gambleon Mar 29, 2022 10:51am

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Post# 34555339

Upgrade to ratings b+ and bb-

S&P Global Ratings Upgrades Baytex Energy

29 Mar 2022 10:42 ET

10:42 AM EDT, 03/29/2022 (MT Newswires) -- S&P Global Ratings on Tuesday its issuer credit rating on Baytex Energy Corp. (BTE.TO) to B+ from B.

The rating agency also raised its issue-level rating on the company's unsecured debt to BB- from B+.

The stable outlook reflects S&P's expectation that the company will mainly use the excess cash flows to cut debt over the next 12 months, leading to adjusted funds from operations to debt above 60%.

The company's shares fell 3.5% on last look on Tuesday.

Price: 5.45, Change: -0.20, Percent Change: -3.54

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