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 > Quarter went all back into capital spending! 413 mill!

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Comment by dllscwbysfnon May 09, 2024 8:34pm

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Post# 36032554

RE:RE:RE:Quarter went all back into capital spending! 413 mill!

90 more days for me Johnny and if we do not get some really good results it will be the end for me. I think I am only staying as I think WTI might run up a bit.

JohnnyDoe wrote:
dllscwbysfn wrote: Yes , however looks like production is down from Q4
Owlseye1 wrote: 1st quarter is always a busy 3 month for capital spending, drilling. You need a certain amount of well to keep production flat ,let alone grow production organically this was the right thing to do investing back into drilling or bte bottom line. Executed a $413 mill E&D program largest in company history!!!

I'm not impressed with what I've seen in the year since the Ranger acquisition. 700M fcf in a 77 wti environment. That's just not cutting it at the debt load and it's way below the fcf levels they touted upon acquiring Ranger.

There always seems to be reasons that we're not moving forward. This Q its because of a huge capital program (which I do understand).

Based on their 50% returns commitment, with 700 fcf over 3 quarters, that's 350 to shareholder with roughly 50M of that going to dividends. So 300M to buybacks. We can expect maybe 7 or 8% share appreciation due to buybacks, but we're still looking at exiting 2024 and being 2+ full years away from the debt target. At strip. Barring surprises.