10:41 AM EST, 01/12/2024 (MT Newswires) -- RBC Capital Markets said Friday that it estimated Baytex Energy Corp. (BTE.TO)'s production at 159,000 boe/d in the context of a $222 million capital program for the fourth quarter of 2023.
RBC projected Baytex's funds from operations per share at $0.61.
RBC siad its outlook for Baytex includes $154 million in proceeds from the sale of its Viking assets, and a $60 million financing charge for the policy premium related to purchased insurance following the company's tax reassessment notice from the Canada Revenue Agency.
RBC picked Baytex is its Dark Horse selection for this year as outlined in its 2024 Global Energy Outlook.
Price: 4.26, Change: +0.05, Percent Change: +1.19