Stockhouse.com uses cookies on this site. By continuing to use our service, you agree to our use of cookies. Cookies are used to offer you a better browsing experience and to analyze our traffic. We also use them to share usage information with our partners. See full details.
I Agree
×
Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Privacy Policy | Disclaimer

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Privacy Policy | Disclaimer
Please Try Again {{ error }}

Send my password

Return to Login
SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Bullboard - Stock Discussion Forum 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... see more

TSX:BTE - Post Discussion

Baytex Energy Corp > Debt trend updated- With Q3 contract days 87% complete
View:
Post by BayStreetWolfTO on Aug 06, 2021 9:12am

Debt trend updated- With Q3 contract days 87% complete

Q3 is averaging over $71 with 12 contract days left. Even a drop to $65 it will hold $70 for Q3.

Using only $65 WTI for Q4 and 2022...management hits the debt target already in the 5 year plan end of 2022 that's on top of the option to start buying back these cheap shares Jan 2022..

With Clearwater having the ability to self fund as Ed mentioned this plan seems on track. 

If Q4 holds above $65....the numbers below get even better.


    Millions ($)
  Jun 30th Net Debt $1,629
  Jul payment (1H FCF) $125
2021 Debt payment Q3 FCF ( 87% complete @ $70 WTI) $140
2021 Debt payment Q4 FCF ( @ $65 WTI) $115
  2021 Ending Net Debt $1,249
     
2022 Debt payment Q1 FCF ( @ $65 WTI) $60
2022 Debt payment Q2 FCF ( @ $65 WTI) $60
2022 Debt payment Q3 FCF ( @ $65 WTI) $60
2022 Debt payment Q4 FCF ( @ $65 WTI) $60
  2022 Ending Net Debt $1,009
     
     
2022 Share buyback Q1 FCF ( @ $65 WTI) $40
2022 Share buyback Q2 FCF ( @ $65 WTI) $40
2022 Share buyback Q3 FCF ( @ $65 WTI) $40
2022 Share buyback Q4 FCF ( @ $65 WTI) $40
  2022 Total Share buyback ($) $240
 
Comment by BayStreetWolfTO on Aug 06, 2021 9:13am
With these assumptions of only $65 oil....won't it be great for the company to buyback those shares being shorted! Buybacks will certainly make it tougher to cover. Looking forward to Q4 and 2022!
Comment by perstrudent on Aug 06, 2021 12:30pm
I like your numbers for debt, but I just dont see share buyback or dividend until Q2 or most likely start of Q3 2022. This is ok with me as gets debt down to very very conservative numbers. Clearwater could  be huge. Look at headwater projections of self funding growth anf half a billion fcf in next 5 years...these wells are remarkable and although super early BTE wells look even better. (we ...more  
Comment by topdown99 on Aug 06, 2021 12:56pm
I would suggest buying back shares before initiating a dividend , the more shares that can be retired before , the more dividend/share will amp up . BTE can make massive strides over the next 12 months and that is where my focus is regarding this one . As Clearwater details are released and those barrels being unhedged , it should be rocket fuel for FCF and further strengthening of the balance ...more  
Baytex Energy Corp