Baytex Energy Corp T.BTE

Duvernay

[Bennys65]

We have just licenced 4 duvernay wells for second half.That follows 3 wells drilled and brought on in the second quarter..At 8 mill per well that is 56 million at a time when we are paying down debt and ramping upthe clearwater.Thinking either the play at 200 sections has got legs and the market is not paying anything for it or we are dressing it up to sell in order to speed up the deleverging and to ramp up clearwater.Both work for me.Eric the new CEO has a past history of using M&A to grow while protecting the balance sheet and incresing shareholder returns.Think we are in good hands.

[BayStreetWolfTO]

Hi Benny, I thought I would come back to this. My understanding is the 1st Duvernay well (from what I heard) started up in July (Q3) over 1,200 BOE/day While everyone is talking about Clearwater....watch out for the Duvernay 200 sections and 100% working interest... This is a solid area imo....one to watch Very excited about 2023!

[BayStreetWolfTO]

Also I believe August production from the 3 wells was approaching 3K BOE/D I think of the same pad so could be some completion work impacting the number but I believe this is a big increase from Q2 out of the Duvernay.... With oil in the $85 range great cash flow there...

[Bennys65]

Thanks for that BSW.Went over and saw how stoaked cpg is about their duvernay purchase from shell for 900 mil and I agree this play looks like it has lots of running room.2023 and we will start to get some hard info from recent wells.ED was very conservative in his presentation on where we are going Hopefully the new guy will add more colour.Glad you are feeling better

[Drifter133]

Here's a nice presentation of the Duvernay I've always liked the Duvernay play but after the Clearwater discovery it was put on the back burner (and for good reasons). I believe it's another Eagle Ford type play and thought that Ed Lafehr had mentioned of possibly getting some help with building the play out. I'm very excited about it's possibilities!  https://boereport

[red2000]

Good idea to talk about Duvernay assets !! I am waiting for the update of the proven and probable reserves on all assets !!! NAV may increase significantly !!! So Value of Baytex also climb way much more with Clearwater, Duvernay and the little one Seal !!! May be we may see some details about it with Q3 resutls ! But all that is done by an independant firm yearly with the YER !!! I will try

[Moemoney42]

Agreed Benny.. CPG's purchase of those Kaybob assets was a great move by management.. and I've touted that for months now.. got attacked by a couple of hacks/trolls constantly.. funny thing is now that the numbers are coming in they've disappeared.. can't wait for that to happen to smallcrapper.. ;-)

[Maxmoe]

Moe, it's inevitable that oil guys will succumb to their baser urges with all that cash in their jeans. Better they buy each other, or assets from each other, than just drill like a drunken sailor on weekend shore leave. Other Moe.