Baytex Energy Corp T.BTE

June presentation on line !!

[red2000]

https://www.baytexenergy.com/files/pdf/corporate-handouts/2022/2022-06-1%20June%20Presentation.pdf

[ResearchSeeker]

And with it, confirmation of 200 Million in long term paid off. Just like they said they would.

[red2000]

Yop ! Load and clear on page 10 ! US$200 million long-term notes due 2024 redeemed on June 1, 2022 Still LONG !

[BayStreetWolfTO]

Yes, making promises, keeping promise. Focus on debt 75% Now just the 2027 note left! Many years away...but to be cleared sooner!

[red2000]

More about TOP wells in Alberta ! Page 24  Baytex own #1 #3 and #4 so far !!!

[BayStreetWolfTO]

You got it Red, that is a great add BTW While some continue to think about debt and hedges...long-term holders know what 2023 brings...

[Volkomm]

I might be wrong on this and confusing these notes with MEG's. But I had thought there is pre-payment restrictions on the next set of notes and they can't do anything until April 2023? Not to say they can't stockpile the cash until then and focus on buy-backs in the interim. 

[red2000]

Same understanding here !

[Fuzman5902]

Note holders can chose to sell if they wish as they have been doing  April 2023 is when meg can  call them in. So yes they may run out of notes, or the premium becomes to high,  they either slow down or stop.

[BayStreetWolfTO]

Volk, yes the 2027 Note is callable in April 2023. You currently have the credit facility and that note....in the meantime you continue to clear off the credit facility (saving interest) while waiting for the call date. In April 2023 you use the credit facility to clear out the 8.75% interest note...and than switch to continue clearing out the credit facility debt...which if these prices hold

[Eigen337]

This post has been removed in accordance with Community Policy

[BayStreetWolfTO]

Eigen, you may want to listen to Brian. His words below. Fast forward to the 40 min mark for debt discussion or @ 42:20min mark for this comment. Brian Ector "one of our options will be to address our 2027 notes that are outstanding those are callable in april of 2023 we're paying 8.75% interest on that note whereas again 3 three and a half percent interest" https://twitter

[Eigen337]

This post has been removed in accordance with Community Policy

[BayStreetWolfTO]

Goal is to eliminate the 2027 note in 2023....regardless of current interest rates the credit facility will still be cheaper than that note...which is interest saved. Of course ZERO debt in 2023 is the target at these oil prices...at that point the banks can go you know where....and shareholders of all Cdn O&G live happily ever after.

[dllscwbysfn]

I thinkyou all worry about debt to much. I would drill Clearwater as much as my take away capacity will allow before i PAID ANY DEBT !! Lets say it cost 3 million to complete a well at Clearwater, and a month later you have your 3 million back in your pocket is that not better that simply paying off 3 milion in debt?? I hope capex is through the roof until prices cool. And if this straegy is too

[BayStreetWolfTO]

DLL, that may be true....us old guys remember the days of very high interest rates... That said when you're at a point when you have no debt (cards, lines or mortgages) you will feel free...maybe you are there now...but if you are mortgage free would you take out a mortgage to buy stocks right now? Or enjoy the freedom of no debt? That is a great feeling...all money can be used for fun stuff

[dllscwbysfn]

BSW, I am pretty old and consevative myself.

[CoachAmI]

That is awesome. Did I read it right?  At $95 bbl/WTI, $1 billion dollars will be paid to debt in 1 year?  That would make us debt free long before the end of 2023.

[BayStreetWolfTO]

Coach, remember we are 75% of FCF to Debt 25% of FCF to Buybacks. However with prices above $95 there is a road map to zero debt in 2023.

[CoachAmI]

Thanks.  Learning curve is getting less steep for me.  I do love what I'm seeing though!

[BayStreetWolfTO]

Very good Coach. Knowledge is power.  For me this is not a 1 week or 1 month trade....nor is it a 6 month trade. So right now my eyes are on 2023.  Most are probably focused on 2022...but I look much further ahead...since many of the metrics change for all these companies.

[fortunefavorsus]

You shouldn't be misleading investors if you don't want the stock price to go up significantly now.  Your basically saying this is a bad investment and buy other energy stocks before you buy this one in 2023.  I am saying this is a great investment now and it should reflect it in the stock price.  

[TheWokeLemming]

CJ is already there and will be increasing its dividend in Q3 most likely.   Dividend is already yielding 6.5%.