Baytex Energy Corp T.BTE

$1B free cash flow

[riski]

We are sitting on $1B FCF at these commodity prices.

That's close to $1.20/share which is 25% FCF yield.

$500 million going to debt
$80 million to the dividend
$420 million to share buybacks

Which could reduce the share count by more than 80 million shares on the next NCIB at $5/share.

Wow.

[robert41]

Hi riski are your numbers based on the fact we have a percentage of production hedged we obviously aren't collecting the extra cash on the hedged barrels .... I can't remember the number of barrels hedged and at what prices.. anyway love those numbers if they are on top of our hedges. Thx

[riski]

Good question. BTE uses three way collars to hedge 40% of production with no hedging losses below $100 WTI in the current quarter. 

[robert41]

Thx riski