Interest rates going down...Another 25 basis point rate cut today.
That will help lower Baytex's debt servicing cost. The first 50 basis point cut didn't really affect Q3 as it only happened in September. Baytex saved 4M of interest payments in Q3 50M vs Q2 54M (as result of lower outstanding total debt and lower rates).
Going forward, interest costs should come down steadily as rates and total debt both continue to decrease.
Thats another ~275M per year that is just beginning to be deleted as an expense.. starting with 4M in Q3.