Baytex Energy Corp T.BTE

Enercom at Denver

[red2000]

Interesting to see the presentation of Tamarack Valley 

Here is a map of their 2022 acquisition around SEAL and PEAVINE area !!

Strangely just close to all locations of Baytex !!!  Look at it !!

Why they bought those locations !!??  So easy to understand no ?

GL LONGS !

Waiting for Baytex presentation at 12h.30 EST

[CoachAmI]

Great to see how much of that map is shaded purple!

[red2000]

If you want to see the Baytex presentation ... Here is the link to reach the webcast : https://enercomdenver.com/confluence-a/ 2 screens A or C depend where it is at 12h.30 EST

[BayStreetWolfTO]

Busy day at Enerom. Lots of information. Good share Red

[red2000]

Now ON AIR with ED !

[Drifter133]

Red, wasn't able to see/hear presentation. What's your thoughts and was there anything new that we hadn't heard? Thank you

[BayStreetWolfTO]

Drift, normally they post the link on their website. I would watch for it shortly Outside of the items we mostly know...the interesting thing was the debt # I posted this earlier Ed@Enercom - Debt will hold at $400m. As at June $723m to go Stated $400m is the right debt given capital structure. Makes complete sense for me. Another $723 million to go and reach final target debt number

[Drifter133]

Thanks Bay, will look for it tonight, appreciate

[BayStreetWolfTO]

No problem. He did also say they were still agressively working on buybacks I see RBC again was the larget Net House buyer today

[Drifter133]

Glad to hear that they are aggressively still buying back, especially at this current share price! I don't believe they will max out their one year 59MM but still giving it the college try! They had mentioned the 400MM debt as being their goal to start aggressively giving to us share holders. I'm guessing 50/50 split at 800MM debt and at 400MM 75/25. I think that they have plenty of very

[BayStreetWolfTO]

I would say Q1-24 Current net debt $1,123M (June 30, 2022) 2022 2H - Debt portion $260M (let's use $85 oil) 2023 - Debt portion $400M (let's use $85 oil) Ending $463M That provides $400M to buybacks in 2023 (@ 50% FCF) If oil is higher just like Russia the timeline accellerates. At this point i figure I am less than 18 months from that target depending on how Q4 looks for oil prices.

[Drifter133]

Maan! When this share price turns it's gonna be epic! Baytex is in so much better shape then ever in it's past! Last year was a very good year. This year has been a great year but next year with $90 WTI with most of the hedging gone and similar clearwater progress as this year, it will be a game changer year IMO! 

[HighOctane89]

I would tend to agree with that statement , when people are forced to face facts , look out . The paper market is working for Biden's popularity by selling millions of paper barrels and crushing prices but when the TRUTH DAM bursts and reality spills across a frozen trading floor , the fuse will be lit and the buying will begin in ernest .  I have never seen such a critical situation get

[red2000]

Hi guys ! I agreed with the number, so for me, its end of 2023 ! At 85$ it's over 800M$ of FCF for 2022, half of it to the debt !!! In my book, BOE/d expected to be way over 90,000 in 2023 ! They want to finish the year 2022 at 87-88,000 boe/d ! Low hedges for 2023 3 Way options for 9,500 boe/d  at $63/$78/$96 At 78$ it's already 15% higher compare to 2022 at 68$ ! The

[masfortuna]

No Drifty.  Second quarter  2023.

[masfortuna]

Sorry.  Should point out I mean the 800 million mark..  And I am being conservative.