Baytex Energy Corp T.BTE

Impairment charge and debt

[JohnnyDoe]

I don't really care much about the impairment charge. Accounting tricks. Creates future tax pools. 

I don't like the debt, or maybe I should say I do not understand it. They said they paid 290 M in debt which they're saying is 10%. Their February presentation shows 2.684B debt as of September 30. They paid 290. They said improving cdn/us ratios. They're now saying 2.5 in debt. That doesn't add. I was expecting debt repayments around 300-310 (based on the asset sale and 1/2 of 300fcf) so I was expecting total debt to be safely under 2.4 

There's some funny math involved here. Can anyone explain this?

[1234bmth]

As at Sep 30th 2023, the net debt was $2.824B not $2.684B.

[JohnnyDoe]

Their February deck says 2.684, page 13. Several decks use that number 

[1234bmth]

I can't even find Feb presentation, where do you see it?

[Lina_Casa]

Ya I think you got to look at the Net Debt line which is 2,534 right now.  It was 2,824 last quarter.  So 2,824 minus 290 gives you the current debt of 2,534. I wish they used the dividend money and buybacks and applied it right to this debt number.  This is what people care about the most Lina

[dandu1924]

Yes you are right, the debt is all the matter if you look for ex: ATH,  ( they did focus to  reduce the debt  in first and  the market did care mostly about this and now  ATH  is at +-  $4.85, so like you see the market did react with  the problem  of  debt level ). So in logical, BTE will still continue to reduce the debt level every quarter, can