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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 buylowon May 30, 2022 12:49pm
333 Views
Post# 34717285

Great UPGRADE!!!!!!!!!!!!!!!!!!

Great UPGRADE!!!!!!!!!!!!!!!!!!
Moody's Upgrades Baytex Energy; Revises Outlook to Positive

 

30 May 202210:49 ET  

 

10:49 AM EDT, 05/30/2022 (MT Newswires) -- Moody's on Friday upgraded Baytex Energy Corp.'s (BTE.TO) corporate family rating to B1 from B2, probability of default rating to B1-PD from B2-PD, and affirmed the B3 senior unsecured ratings.

The rating outlook was changed to positive from stable. The speculative grade liquidity rating upgraded to SGL-1 from SGL-2.

"The upgrade reflects our expectation for Baytex's credit metrics to remain strong while it continues to deleverage via strong free cash flow generation," Moody's analyst Paresh Chari said in a statement. "The upgrade also reflects the company's strong commitment to reducing debt, and its very good liquidity."

The company's shares rose 2.8% on last look on Monday.

Price: 7.07, Change: +0.19, Percent Change: +2.76

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