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Baytex Energy Corp T.BTE

Alternate Symbol(s):  BTE

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

Comment by 1234bmthon Jun 12, 2024 1:37am
191 Views
Post# 36084102

RE:RE:RE:RE:RE:RE:RE:RE:BTE play

RE:RE:RE:RE:RE:RE:RE:RE:BTE playIMO there are 3 reasons that holds BTE down. 1- They promised un estimated of $1B FCF/ year at the time of Ranger Oil acquisition at $75 WTI, now they estimate $700M at $77 WTI, this is huge difference. 2- The Ranger Oil acquisition caused to issuing 300M + new shares and 800M + shares outstanding for a small market cap oil company with relatively high exploration cost is too much and buying back 40 to 50M shares annually is not helping much at least for another 4 to 5 years. 3- The debt level is too high compared to FCF and taking in to account covering buyback, dividend and interest expense. BTE absolutely needs to perform better than they promises which so far they haven't and in fact they delivered worse than they promised.
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