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 > Nice divy increase from ERF.

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Comment by BayStreetWolfTOon Aug 05, 2022 10:11am

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Post# 34873866

RE:RE:RE:Nice divy increase from ERF.

I believe at $85 the ERF FCF is ~32.5% so 60% of that is 19.5%

You could do 10% buybacks and 9.5% dividend at $85

Now we are talking

BayStreetWolfTO wrote: ERF moving to 60% for 2H 2022 and into 2023.

ERF FCF Yield @ $70 in 2023 is ~ 27%....so 60% of that is a shareholder return of 16.2%

Not too bad 16% split between divy and buybacks.

The company will now return a minimum of $425 million to shareholders, up from $325 million previously, returning at least 60% of free cash flow (vs. 50% previously) to shareholders in the second half of 2022 and continuing through 2023.

BayStreetWolfTO wrote: Also interesting....lower capex...wait for it with WTI volatility....

2% higher production, and 14% lower capital spending (see table below). The company bolstered its shareholder returns profile including a 16% increase in its dividend to an annualized rate of $0.20 per share.

BayStreetWolfTO wrote: Nice to see