Baytex Energy Corp T.BTE

Q3 Share Buybacks

[Frost19]

I have Baytex at just under 18M shares bought back and just under 17M shares cancelled in Q3.

The 17M represents exactly 2% of the entire share count outstanding (852M).

In real dollars, around 74M USD for the 18M shares (2.1%). 

I just want to be sure I am correct in those numbers, everyone have the same?


Whats interesting on the buybacks are that Baytex was buying back ~250k shares per day in July and August. On September 1st that jumped to 300k+ then 500k+ towards the end of September. It will be interesting to see what Q4/October share repurchases start at.

[WaterDPlants]

Using your numbers free cash flow should be… $ amount shares repurchased x 2 (50% to buybacks) x USD to CAD + dividend (852M x .0225) x 2 $74M x 2 x 1.3 + $19M x 2 = $230M CAD for the quarter Not bad given capital costs are usually higher in the 3rd quarter. Nevertheless, I will wait until the numbers are posted in a few weeks.  Given the political landscape, I do not believe oil will