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 > Shares buyback effect

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Post by 1234bmthon Jun 26, 2024 10:39pm

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Post# 36108238

Shares buyback effect

For the past 12 months BTE bought back 55,365,100 at the average price of $5.31, the starting day of buyback was Jun 29, 2023 and WTI was $69.86, BTE SP was $4.32, now after spending $293M to buyback and WTI is $80+ yet the SP is just $4.63. Isn't better to pay down debt 100% of FCF instead of buyback and meaningless dividend?

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